Dec, 31, 2023 — FORGE FEDERAL CREDIT UNION is a federal credit union headquartered in UPPER DARBY, PA with 1 branch location and about $53.73 million in total assets. Opened 70 years ago in 1954, FORGE FEDERAL CREDIT UNION has about 4,247 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FORGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1400 Bywood Ave UPPER DARBY, PA 19082 |
| Phone: | (610) 352-2000 |
| Fax: | (610) 352-6903 |
| Website: | https://www.forgecu.org |
| Branches: | 1 branch locations |
| Members: | 4,247 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9622 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $53,728,457 |
| CEO/Manager: | Rachael M Mattioni |
| Chairperson: | Kevin W Baldwin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,943,091 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,040,888 |
| Unsecured Loans | 6,820,478 |
| Other Loans | 5,536,185 |
| TOTAL LOANS | 25,397,551 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,342,528 |
| Land And Building | 148,180 |
| Other Fixed Assets | 7,658 |
| NCUSIF Deposit | 407,230 |
| All Other Assets | 0 |
| TOTAL ASSETS | 53,728,457 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 201,280 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,891,238 |
| Regular shares | 15,873,355 |
| All Other Shares & Deposits | 23,499,583 |
| TOTAL SHARES & DEPOSITS | 43,264,176 |
| TOTAL LIABILITIES | 43,465,456 |
| Regular Reserve | 0 |
| Other Reserves | 1,040,988 |
| Undivided Earnings | 9,222,013 |
| TOTAL EQUITY | 10,263,001 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 53,728,457 |
| INCOME & EXPENSE | |
| Loan Income | 1,976,530 |
| Investment Income | 824,524 |
| Other Income | 170,847 |
| Total Employee Compensation & Benefits | 660,266 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 912,880 |
| Non-operating Income & (Expense) | 32,908 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 296,361 |
| Cost of Funds | 774,577 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 557,126 |
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