Dec, 31, 2023 — EDUCATIONAL SYSTEMS FEDERAL CREDIT UNION is a federal credit union headquartered in GREENBELT, MD with 13 branch locations and about $1.28 billion in total assets. Opened 69 years ago in 1955, EDUCATIONAL SYSTEMS FEDERAL CREDIT UNION has about 87,428 members and employs 205 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDUCATIONAL SYSTEMS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 7500 Greenway Center Dr GREENBELT, MD 20770 |
| Phone: | (301) 779-8500 |
| Fax: | (301) 985-4671 |
| Website: | https://www.esfcu.org |
| Branches: | 13 branch locations |
| Members: | 87,428 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10696 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,276,514,581 |
| CEO/Manager: | Girado Smith |
| Chairperson: | Alonia Sharps |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 111,451,708 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 353,688,433 |
| Unsecured Loans | 76,504,925 |
| Other Loans | 397,610,668 |
| TOTAL LOANS | 827,804,026 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,438,202 |
| Land And Building | 21,820,650 |
| Other Fixed Assets | 9,585,764 |
| NCUSIF Deposit | 10,836,971 |
| All Other Assets | 205,750 |
| TOTAL ASSETS | 1,276,514,581 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 67,035,714 |
| Accounts Payable & Other Liabilities | 30,343,321 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 224,248,288 |
| Regular shares | 469,982,734 |
| All Other Shares & Deposits | 389,814,832 |
| TOTAL SHARES & DEPOSITS | 1,084,045,855 |
| TOTAL LIABILITIES | 1,181,859,543 |
| Regular Reserve | 0 |
| Other Reserves | -13,174,505 |
| Undivided Earnings | 107,829,543 |
| TOTAL EQUITY | 94,655,038 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,276,514,581 |
| INCOME & EXPENSE | |
| Loan Income | 38,438,246 |
| Investment Income | 12,097,064 |
| Other Income | 10,421,552 |
| Total Employee Compensation & Benefits | 22,206,576 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 20,979,235 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,987,590 |
| Cost of Funds | 12,623,947 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,800,810 |
| ↑ Back to Top | |