Dec, 31, 2023 — MARINE FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSONVILLE, NC with 14 branch locations and about $953.86 million in total assets. Opened 65 years ago in 1959, MARINE FEDERAL CREDIT UNION has about 81,892 members and employs 256 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MARINE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4180 Western Blvd JACKSONVILLE, NC 28546-6740 |
| Phone: | (910) 577-7333 |
| Fax: | (910) 355-7872 |
| Website: | https://marinefederalhb.org |
| Branches: | 14 branch locations |
| Members: | 81,892 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12977 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $953,857,060 |
| CEO/Manager: | Jeffrey Clark |
| Chairperson: | Chuck Collins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 70,460,213 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 274,322,331 |
| Unsecured Loans | 110,823,709 |
| Other Loans | 299,000,608 |
| TOTAL LOANS | 684,146,648 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -13,367,321 |
| Land And Building | 7,724,893 |
| Other Fixed Assets | 6,120,526 |
| NCUSIF Deposit | 7,637,301 |
| All Other Assets | 815,047 |
| TOTAL ASSETS | 953,857,060 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 839,018 |
| Notes & Interest Payable | 8,000,000 |
| Accounts Payable & Other Liabilities | 15,271,934 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 9,680,000 |
| Share Drafts | 171,726,389 |
| Regular shares | 262,397,421 |
| All Other Shares & Deposits | 404,934,240 |
| TOTAL SHARES & DEPOSITS | 839,058,051 |
| TOTAL LIABILITIES | 872,882,363 |
| Regular Reserve | 0 |
| Other Reserves | -6,745,929 |
| Undivided Earnings | 87,720,626 |
| TOTAL EQUITY | 80,974,697 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 953,857,060 |
| INCOME & EXPENSE | |
| Loan Income | 45,539,379 |
| Investment Income | 5,323,128 |
| Other Income | 6,385,941 |
| Total Employee Compensation & Benefits | 15,888,082 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 23,573,650 |
| Non-operating Income & (Expense) | -161,955 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,871,116 |
| Cost of Funds | 7,938,310 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,947,462 |
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