Dec, 31, 2023 — DELAWARE STATE POLICE FEDERAL CREDIT UNION is a federal credit union headquartered in GEORGETOWN, DE with 3 branch locations and about $130.07 million in total assets. Opened 64 years ago in 1960, DELAWARE STATE POLICE FEDERAL CREDIT UNION has about 8,513 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DELAWARE STATE POLICE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 700 N Bedford St GEORGETOWN, DE 19947 |
| Phone: | (302) 276-8600 |
| Fax: | (302) 856-2539 |
| Website: | https://www.dspfcu.com |
| Branches: | 3 branch locations |
| Members: | 8,513 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13791 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $130,072,869 |
| CEO/Manager: | Ronald J Ferrance Jr |
| Chairperson: | Ronnie L Gaines |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,699,259 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 29,873,828 |
| Unsecured Loans | 6,831,440 |
| Other Loans | 20,195,023 |
| TOTAL LOANS | 56,900,291 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -833,486 |
| Land And Building | 747,297 |
| Other Fixed Assets | 378,817 |
| NCUSIF Deposit | 1,254,668 |
| All Other Assets | 168,206 |
| TOTAL ASSETS | 130,072,869 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 38,219 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 974,427 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 27,980,848 |
| Regular shares | 62,865,787 |
| All Other Shares & Deposits | 32,093,437 |
| TOTAL SHARES & DEPOSITS | 122,940,072 |
| TOTAL LIABILITIES | 123,952,718 |
| Regular Reserve | 0 |
| Other Reserves | -6,830,465 |
| Undivided Earnings | 12,950,616 |
| TOTAL EQUITY | 6,120,151 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 130,072,869 |
| INCOME & EXPENSE | |
| Loan Income | 2,861,493 |
| Investment Income | 1,612,400 |
| Other Income | 305,280 |
| Total Employee Compensation & Benefits | 1,610,672 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,444,647 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,112 |
| Cost of Funds | 483,479 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 990,190 |
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