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STATE DEPARTMENT FEDERAL CREDIT UNION

Dec, 31, 2023 — STATE DEPARTMENT FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, VA with 6 branch locations and about $2.80 billion in total assets. Opened 89 years ago in 1935, STATE DEPARTMENT FEDERAL CREDIT UNION has about 88,894 members and employs 202 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:STATE DEPARTMENT FEDERAL CREDIT UNION
Address:
(Main Office)
1630 King St
ALEXANDRIA, VA 22314-2763
Phone:(703) 706-5000
Fax:
Website:https://www.sdfcu.org
Branches:6 branch locations
Members:88,894
Credit Union Type:Federal Credit Union
Charter Number:435
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1935
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$2,800,005,606
CEO/Manager:James T Hayes
Chairperson:Marlene E Schwartz

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 120,234,571
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 950,748,201
 Unsecured Loans 180,029,285
 Other Loans 274,561,062
 TOTAL LOANS 1,405,338,549
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -14,597,961
 Land And Building 13,504,416
 Other Fixed Assets 4,424,456
 NCUSIF Deposit 18,046,771
 All Other Assets 0
  TOTAL ASSETS 2,800,005,606
LIABILITIES & CAPITAL:  
 Dividends Payable 206,122
 Notes & Interest Payable 406,133,846
 Accounts Payable & Other Liabilities 15,864,015
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 490,384,440
 Regular shares 401,204,462
 All Other Shares & Deposits 1,321,033,164
  TOTAL SHARES & DEPOSITS 2,212,622,066
  TOTAL LIABILITIES 2,634,826,049
 Regular Reserve 0
 Other Reserves -125,942,047
 Undivided Earnings 291,121,604
  TOTAL EQUITY 165,179,557
  TOTAL LIABILITIES, SHARES, & EQUITY 2,800,005,606
INCOME & EXPENSE  
 Loan Income 70,122,093
 Investment Income 35,744,325
 Other Income 2,755,680
 Total Employee Compensation & Benefits 23,285,434
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 28,424,641
 Non-operating Income & (Expense) 949,710
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,006,000
 Cost of Funds 48,138,357
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 17,096,489
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