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National Credit Union Service Organization

MARINE FEDERAL CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for MARINE FEDERAL CREDIT UNION as of: December 31, 2023.
Charter Number: 12977

ASSETS$ Amount
CASH:  
 1. Cash on Hand 9,148,265
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 61,311,948
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 90,938,336
 7. Held-to-Maturity Debt Securities 1,240,000
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 3,000,000
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 684,146,648
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 13,367,321
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 815,047
 20. Land and Building 7,724,893
 21. Other Fixed Assets 6,120,526
 22. NCUA Share Insurance Capitalization Deposit 7,637,301
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 953,857,060
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 8,000,000
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 9,680,000
 5. Subordinated Debt included in Net Worth 9,680,000
 6. TOTALS 17,680,000
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 839,018
 9. Accounts Payable and Other Liabilities 15,271,934
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 33,360
SHARES/DEPOSITS:  
 11. Share Drafts 171,726,389
 12. Regular Shares 262,397,421
 13. Money Market Shares 184,600,632
 14. Share Certificates 171,797,233
 15. IRA/KEOGH Accounts 23,810,956
 16. All Other Shares 773,419
 17. TOTAL SHARES 815,106,051
 18. Nonmember Deposits 23,952,000
 19. TOTAL SHARES AND DEPOSITS 839,058,051
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 73,214,955
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 6,221,842
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 10,749,985
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 270,445
EQUITY:  
 33. Undivided Earnings 87,720,626
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 1,500,000
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 77,390
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -8,323,319
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 953,857,060
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 45,539,379
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 5,323,128
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 50,862,507
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 7,673,104
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 265,206
 9. TOTAL INTEREST EXPENSE 7,938,310
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 11,871,116
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 6,385,941
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets -161,955
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 14,356,113
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 15,888,082
 23. Travel and Conference Expense 420,250
 24. Office Occupancy Expense 2,222,546
 25. Office Operations Expense 4,953,678
 26. Educational and Promotional Expenses 757,103
 27. Loan Servicing Expense 9,290,820
 28. Professional and Outside Services 5,531,640
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 149,093
 31. Miscellaneous Operating Expenses 248,520
 32. TOTAL NON-INTEREST EXPENSE 39,461,732
33. NET INCOME (LOSS) 5,947,462
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans13.4917,284$58,865,613
 2. Payday Alternative Loans (PALs I and PALs II)18.00330$91,950
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans18.009,095$51,866,146
 5. New Vehicle Loans5.152,212$59,004,222
 6. Used Vehicle Loans7.259,992$195,025,004
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit8.75527$16,378,000
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property8.50599$81,793,494
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property8.5427$75,830,681
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured6.50112$116,698,156
 13. Commercial Loans/Lines of Credit Not Real Estate Secured6.5036$28,593,382
 14. TOTAL LOANS & LEASES40,614$684,146,648
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date7,089$171,862,927
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date550$213,606
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff47$2,713,409
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration19$17,522,489$16,971,790
  b. Other Government Guaranteed45$32,805,229$31,237,113