Dec, 31, 2023 — DISCOVERY FEDERAL CREDIT UNION is a federal credit union headquartered in WYOMISSING, PA with 1 branch location and about $177.40 million in total assets. Opened 65 years ago in 1959, DISCOVERY FEDERAL CREDIT UNION has about 8,673 members and employs 19 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DISCOVERY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2744 Century Blvd WYOMISSING, PA 19610 |
| Phone: | (610) 372-8010 |
| Fax: | (610) 372-8105 |
| Website: | https://www.discoveryfcu.org |
| Branches: | 1 branch locations |
| Members: | 8,673 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12935 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $177,403,154 |
| CEO/Manager: | Michele Smith |
| Chairperson: | Robert Shaner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,570,720 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 61,596,592 |
| Unsecured Loans | 11,523,548 |
| Other Loans | 26,585,377 |
| TOTAL LOANS | 101,615,079 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -948,451 |
| Land And Building | 4,121,140 |
| Other Fixed Assets | 235,280 |
| NCUSIF Deposit | 1,539,148 |
| All Other Assets | 0 |
| TOTAL ASSETS | 177,403,154 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 317,645 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 22,835,861 |
| Regular shares | 33,654,844 |
| All Other Shares & Deposits | 104,266,648 |
| TOTAL SHARES & DEPOSITS | 160,757,353 |
| TOTAL LIABILITIES | 161,074,998 |
| Regular Reserve | 0 |
| Other Reserves | -2,630,808 |
| Undivided Earnings | 18,958,964 |
| TOTAL EQUITY | 16,328,156 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 177,403,154 |
| INCOME & EXPENSE | |
| Loan Income | 5,242,203 |
| Investment Income | 1,006,094 |
| Other Income | 1,115,241 |
| Total Employee Compensation & Benefits | 2,180,570 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,169,416 |
| Non-operating Income & (Expense) | 123,208 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 1,743,967 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 177,281 |
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