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DEMOCRACY FEDERAL CREDIT UNION

Mar, 31, 2021 — DEMOCRACY FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, VA with 5 branch locations and about $175.06 million in total assets. Opened 85 years ago in 1936, DEMOCRACY FEDERAL CREDIT UNION has about 13,608 members and employs 42 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: 254074688
Name:DEMOCRACY FEDERAL CREDIT UNION
Address:
(Main Office)
P O BOX 25516
ALEXANDRIA, VA 22313-5516
Phone:(202) 488-5400
Fax:(703) 548-5279
Website:http://www.democracyfcu.org
Branches:5 branch locations
Members:13,608
Credit Union Type:Federal Credit Union
Charter Number:1407
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$175,064,875
CEO/Manager:Ken Cahoon
Chairperson:Patricia J Ellis

Call Report

  • Credit Builder
  • Interest Only or Payment Option 1st Mortgage Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • First Time Homebuyer Program
  • In-School Branches
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 26,311,420
TOTAL INVESTMENTS 22,931,096
Loans Held for Sale 0
 
 Real Estate Loans 80,498,511
 Unsecured Loans 22,435,281
 Other Loans 10,395,087
 TOTAL LOANS 113,328,879
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -832,921
 Land And Building 2,028,844
 Other Fixed Assets 437,601
 NCUSIF Deposit 1,442,805
 All Other Assets 9,417,151
  TOTAL ASSETS 175,064,875
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,255,164
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 28,293,733
 Regular shares 57,266,297
 All Other Shares & Deposits 72,270,313
  TOTAL SHARES & DEPOSITS 157,830,343
  TOTAL LIABILITIES 159,085,507
 Regular Reserve 649,351
 Other Reserves 173,071
 Undivided Earnings 15,156,946
  TOTAL EQUITY 15,979,368
  TOTAL LIABILITIES, SHARES, & EQUITY 175,064,875
INCOME & EXPENSE  
 Loan Income 1,441,319
 Investment Income 58,522
 Other Income 297,646
 Total Employee Compensation & Benefits 938,258
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 987,407
 Non-operating Income & (Expense) 42,971
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 40,000
 Cost of Funds 192,652
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 182,382
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