Dec, 31, 2020 — THIOKOL ELKTON FEDERAL CREDIT UNION is a federal credit union headquartered in Elkton, MD with 1 branch location and about $23.59 million in total assets. Opened 63 years ago in 1958, THIOKOL ELKTON FEDERAL CREDIT UNION has about 1,717 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THIOKOL ELKTON FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 825 Elkton, MD 21921 |
| Phone: | (410) 392-5660 |
| Fax: | (410) 392-0241 |
| Website: | http://www.thiokolfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,717 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12185 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Sep 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $23,588,352 |
| CEO/Manager: | Karen R Porter |
| Chairperson: | Donald V Lushis |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,289,108 |
| TOTAL INVESTMENTS | 9,229,942 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,333,706 |
| Unsecured Loans | 1,521,885 |
| Other Loans | 4,077,646 |
| TOTAL LOANS | 7,933,237 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -223,853 |
| Land And Building | 0 |
| Other Fixed Assets | 22,044 |
| NCUSIF Deposit | 176,941 |
| All Other Assets | 1,160,933 |
| TOTAL ASSETS | 23,588,352 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,634 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 76,624 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,033,915 |
| Regular shares | 12,894,714 |
| All Other Shares & Deposits | 4,485,539 |
| TOTAL SHARES & DEPOSITS | 20,414,168 |
| TOTAL LIABILITIES | 20,495,426 |
| Regular Reserve | 420,875 |
| Other Reserves | -457,907 |
| Undivided Earnings | 3,129,958 |
| TOTAL EQUITY | 3,092,926 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 23,588,352 |
| INCOME & EXPENSE | |
| Loan Income | 379,765 |
| Investment Income | 223,534 |
| Other Income | 84,504 |
| Total Employee Compensation & Benefits | 262,661 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 265,206 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 25,500 |
| Cost of Funds | 58,525 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 75,911 |
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