Dec, 31, 2023 — DESCO FEDERAL CREDIT UNION is a federal credit union headquartered in PORTSMOUTH, OH with 8 branch locations and about $462.63 million in total assets. Opened 61 years ago in 1963, DESCO FEDERAL CREDIT UNION has about 24,986 members and employs 116 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | DESCO FEDERAL CREDIT UNION |
---|---|
Address: (Main Office) | 401 Chillicothe St PORTSMOUTH, OH 45662 |
Phone: | (740) 354-7791 |
Fax: | (740) 353-0745 |
Website: | https://www.descofcu.org |
Branches: | 8 branch locations |
Members: | 24,986 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15882 |
---|---|
Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1963 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $462,626,440 |
CEO/Manager: | Lee R Powell |
Chairperson: | Richard N Bussa |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 59,803,258 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 243,504,259 |
Unsecured Loans | 14,142,626 |
Other Loans | 49,060,618 |
TOTAL LOANS | 322,208,860 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,079,377 |
Land And Building | 12,987,529 |
Other Fixed Assets | 928,249 |
NCUSIF Deposit | 3,788,454 |
All Other Assets | 0 |
TOTAL ASSETS | 462,626,440 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,800,074 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 4,374,965 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 149,561,545 |
Regular shares | 124,709,325 |
All Other Shares & Deposits | 135,382,174 |
TOTAL SHARES & DEPOSITS | 409,653,045 |
TOTAL LIABILITIES | 415,828,084 |
Regular Reserve | 0 |
Other Reserves | 17,096,198 |
Undivided Earnings | 29,702,158 |
TOTAL EQUITY | 46,798,356 |
TOTAL LIABILITIES, SHARES, & EQUITY | 462,626,440 |
INCOME & EXPENSE | |
Loan Income | 15,309,361 |
Investment Income | 4,731,402 |
Other Income | 3,520,297 |
Total Employee Compensation & Benefits | 7,866,805 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 6,754,695 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 70,000 |
Cost of Funds | 6,256,513 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,954,378 |
↑ Back to Top |