Dec, 31, 2023 — DOVER FEDERAL CREDIT UNION is a federal credit union headquartered in DOVER, DE with 8 branch locations and about $697.72 million in total assets. Opened 66 years ago in 1958, DOVER FEDERAL CREDIT UNION has about 44,603 members and employs 135 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DOVER FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1075 Silver Lake Blvd DOVER, DE 19904-2411 |
| Phone: | (302) 678-8000 |
| Fax: | |
| Website: | https://doverfcu.com |
| Branches: | 8 branch locations |
| Members: | 44,603 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12443 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $697,722,314 |
| CEO/Manager: | Janell Upton |
| Chairperson: | Jeannette Schuler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 73,460,499 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 232,894,086 |
| Unsecured Loans | 34,336,659 |
| Other Loans | 270,527,096 |
| TOTAL LOANS | 537,757,841 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,989,813 |
| Land And Building | 17,331,678 |
| Other Fixed Assets | 1,063,933 |
| NCUSIF Deposit | 5,806,643 |
| All Other Assets | 641,997 |
| TOTAL ASSETS | 697,722,314 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,582 |
| Notes & Interest Payable | 30,000,000 |
| Accounts Payable & Other Liabilities | 6,825,310 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 138,002,179 |
| Regular shares | 269,978,110 |
| All Other Shares & Deposits | 205,322,244 |
| TOTAL SHARES & DEPOSITS | 613,302,533 |
| TOTAL LIABILITIES | 650,278,902 |
| Regular Reserve | 0 |
| Other Reserves | 10,785,667 |
| Undivided Earnings | 36,657,745 |
| TOTAL EQUITY | 47,443,412 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 697,722,314 |
| INCOME & EXPENSE | |
| Loan Income | 26,175,460 |
| Investment Income | 3,063,842 |
| Other Income | 3,760,378 |
| Total Employee Compensation & Benefits | 11,946,925 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,562,893 |
| Non-operating Income & (Expense) | -239,527 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,689,714 |
| Cost of Funds | 6,538,386 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,138,789 |
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