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DEMOCRACY FEDERAL CREDIT UNION

Mar, 31, 2022 — DEMOCRACY FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, VA with 5 branch locations and about $179.97 million in total assets. Opened 86 years ago in 1936, DEMOCRACY FEDERAL CREDIT UNION has about 12,503 members and employs 27 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)
400 N Columbus St
ALEXANDRIA, VA 22314
Phone:(202) 488-5400
Fax:(703) 548-5279
Website:http://www.democracyfcu.org
Branches:5 branch locations
Members:12,503
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$179,967,022
CEO/Manager:Ken Cahoon
Chairperson:Patricia J Ellis

Call Report

  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,623,691
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 82,034,073
 Unsecured Loans 32,596,582
 Other Loans 9,907,163
 TOTAL LOANS 124,537,818
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -673,514
 Land And Building 1,967,138
 Other Fixed Assets 1,484,336
 NCUSIF Deposit 1,456,313
 All Other Assets 86,847
  TOTAL ASSETS 179,967,022
LIABILITIES & CAPITAL:  
 Dividends Payable 154
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,985,257
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 28,488,605
 Regular shares 61,277,307
 All Other Shares & Deposits 70,761,189
  TOTAL SHARES & DEPOSITS 160,527,101
  TOTAL LIABILITIES 164,512,512
 Regular Reserve 0
 Other Reserves -242,620
 Undivided Earnings 15,697,130
  TOTAL EQUITY 15,454,510
  TOTAL LIABILITIES, SHARES, & EQUITY 179,967,022
INCOME & EXPENSE  
 Loan Income 1,561,243
 Investment Income 86,408
 Other Income 326,444
 Total Employee Compensation & Benefits 937,599
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,053,780
 Non-operating Income & (Expense) 278,775
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 140,000
 Cost of Funds 161,991
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 291,000
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