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MARINE FEDERAL CREDIT UNION

Mar, 31, 2021 — MARINE FEDERAL CREDIT UNION is a federal credit union headquartered in Jacksonville, NC with 15 branch locations and about $851.03 million in total assets. Opened 62 years ago in 1959, MARINE FEDERAL CREDIT UNION has about 81,832 members and employs 237 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:81,832
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:$851,027,383
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 113,392,286
TOTAL INVESTMENTS 111,315,401
Loans Held for Sale 0
 
 Real Estate Loans 214,420,030
 Unsecured Loans 77,382,548
 Other Loans 249,089,947
 TOTAL LOANS 540,935,874
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -7,948,647
 Land And Building 9,588,502
 Other Fixed Assets 4,092,171
 NCUSIF Deposit 6,682,493
 All Other Assets 72,969,303
  TOTAL ASSETS 851,027,383
LIABILITIES & CAPITAL:  
 Dividends Payable 192,390
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 8,234,008
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 176,721,009
 Regular shares 267,183,549
 All Other Shares & Deposits 330,061,521
  TOTAL SHARES & DEPOSITS 773,966,079
  TOTAL LIABILITIES 782,392,477
 Regular Reserve 6,956,416
 Other Reserves 1,151,163
 Undivided Earnings 60,527,327
  TOTAL EQUITY 68,634,906
  TOTAL LIABILITIES, SHARES, & EQUITY 851,027,383
INCOME & EXPENSE  
 Loan Income 7,418,927
 Investment Income 207,708
 Other Income 1,485,627
 Total Employee Compensation & Benefits 3,135,626
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,242,258
 Non-operating Income & (Expense) -2,619
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 855,000
 Cost of Funds 616,189
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,298,194
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