Dec, 31, 2023 — I B E W 26 FEDERAL CREDIT UNION is a federal credit union headquartered in LANHAM, MD with 1 branch location and about $29.50 million in total assets. Opened 69 years ago in 1955, I B E W 26 FEDERAL CREDIT UNION has about 2,688 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | I B E W 26 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4371 Parliament Pl Ste C LANHAM, MD 20706 |
| Phone: | (301) 306-0610 |
| Fax: | (301) 306-0746 |
| Website: | https://www.ibew26fcu.com |
| Branches: | 1 branch locations |
| Members: | 2,688 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10323 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,501,591 |
| CEO/Manager: | Joshua C Urbick |
| Chairperson: | Lambert J Marlow |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,764,015 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,719,979 |
| Unsecured Loans | 1,570,339 |
| Other Loans | 8,430,318 |
| TOTAL LOANS | 12,720,636 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -104,942 |
| Land And Building | 0 |
| Other Fixed Assets | 32,142 |
| NCUSIF Deposit | 298,618 |
| All Other Assets | 0 |
| TOTAL ASSETS | 29,501,591 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 358,982 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,572,595 |
| Regular shares | 23,135,873 |
| All Other Shares & Deposits | 1,477,771 |
| TOTAL SHARES & DEPOSITS | 27,186,240 |
| TOTAL LIABILITIES | 27,545,222 |
| Regular Reserve | 0 |
| Other Reserves | 269,437 |
| Undivided Earnings | 1,686,932 |
| TOTAL EQUITY | 1,956,369 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,501,591 |
| INCOME & EXPENSE | |
| Loan Income | 633,914 |
| Investment Income | 455,890 |
| Other Income | 305,969 |
| Total Employee Compensation & Benefits | 705,964 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 570,699 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 139,504 |
| Cost of Funds | 4,942 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -25,336 |
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