Dec, 31, 2022 — MARINE FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSONVILLE, NC with 14 branch locations and about $929.42 million in total assets. Opened 64 years ago in 1959, MARINE FEDERAL CREDIT UNION has about 81,552 members and employs 241 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: | 81,552 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $929,421,046 |
| CEO/Manager: | Jeffrey Clark |
| Chairperson: | Chuck Collins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 59,674,787 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 272,179,275 |
| Unsecured Loans | 97,654,461 |
| Other Loans | 276,573,223 |
| TOTAL LOANS | 646,446,724 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,398,464 |
| Land And Building | 9,360,947 |
| Other Fixed Assets | 3,299,903 |
| NCUSIF Deposit | 7,370,302 |
| All Other Assets | 620,772 |
| TOTAL ASSETS | 929,421,046 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 243,304 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,082,949 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 9,680,000 |
| Share Drafts | 183,258,208 |
| Regular shares | 294,962,890 |
| All Other Shares & Deposits | 358,212,488 |
| TOTAL SHARES & DEPOSITS | 836,433,586 |
| TOTAL LIABILITIES | 854,439,839 |
| Regular Reserve | 0 |
| Other Reserves | -8,394,047 |
| Undivided Earnings | 83,375,254 |
| TOTAL EQUITY | 74,981,207 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 929,421,046 |
| INCOME & EXPENSE | |
| Loan Income | 24,325,551 |
| Investment Income | 1,734,161 |
| Other Income | 4,906,514 |
| Total Employee Compensation & Benefits | 10,816,384 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 15,555,554 |
| Non-operating Income & (Expense) | -60,026 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,594,000 |
| Cost of Funds | 1,516,959 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,794,345 |
| ↑ Back to Top | |