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MARINE FEDERAL CREDIT UNION

Dec, 31, 2020 — MARINE FEDERAL CREDIT UNION is a federal credit union headquartered in Jacksonville, NC with 15 branch locations and about $822.67 million in total assets. Opened 62 years ago in 1959, MARINE FEDERAL CREDIT UNION has about 81,811 members and employs 238 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253174893
Name:MARINE FEDERAL CREDIT UNION
Address:
(Main Office)
P.O. Box 1551
Jacksonville, NC 28541-1551
Phone:(910) 577-7333
Fax:(910) 355-7872
Website:http://marinefederal.org
Branches:15 branch locations
Members:81,811
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$822,673,283
CEO/Manager:Jeffrey Clark
Chairperson:Chuck Collins

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Insurance/Investment Sales

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 155,118,153
TOTAL INVESTMENTS 96,242,176
Loans Held for Sale 504,164
 
 Real Estate Loans 174,936,341
 Unsecured Loans 76,077,384
 Other Loans 249,710,516
 TOTAL LOANS 500,768,168
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -8,088,181
 Land And Building 9,593,817
 Other Fixed Assets 3,982,681
 NCUSIF Deposit 6,682,493
 All Other Assets 57,869,812
  TOTAL ASSETS 822,673,283
LIABILITIES & CAPITAL:  
 Dividends Payable 241,261
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 8,467,995
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 173,210,832
 Regular shares 241,833,058
 All Other Shares & Deposits 330,701,900
  TOTAL SHARES & DEPOSITS 745,745,790
  TOTAL LIABILITIES 754,455,046
 Regular Reserve 6,956,416
 Other Reserves 2,032,688
 Undivided Earnings 59,229,133
  TOTAL EQUITY 68,218,237
  TOTAL LIABILITIES, SHARES, & EQUITY 822,673,283
INCOME & EXPENSE  
 Loan Income 29,074,167
 Investment Income 1,639,862
 Other Income 13,022,824
 Total Employee Compensation & Benefits 13,067,238
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 18,707,965
 Non-operating Income & (Expense) 391,495
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,399,000
 Cost of Funds 3,561,912
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,392,233
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