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DEMOCRACY FEDERAL CREDIT UNION

Jun, 30, 2021 — DEMOCRACY FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, VA with 5 branch locations and about $177.06 million in total assets. Opened 85 years ago in 1936, DEMOCRACY FEDERAL CREDIT UNION has about 13,548 members and employs 37 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:13,548
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:$177,062,611
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 32,252,714
TOTAL INVESTMENTS 23,840,666
Loans Held for Sale 0
 
 Real Estate Loans 78,108,685
 Unsecured Loans 21,977,653
 Other Loans 10,622,343
 TOTAL LOANS 110,708,681
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -747,048
 Land And Building 2,013,417
 Other Fixed Assets 409,350
 NCUSIF Deposit 1,442,805
 All Other Assets 7,142,026
  TOTAL ASSETS 177,062,611
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,500,587
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 28,933,605
 Regular shares 58,629,936
 All Other Shares & Deposits 72,125,872
  TOTAL SHARES & DEPOSITS 159,689,413
  TOTAL LIABILITIES 161,190,000
 Regular Reserve 649,351
 Other Reserves 173,580
 Undivided Earnings 15,049,680
  TOTAL EQUITY 15,872,611
  TOTAL LIABILITIES, SHARES, & EQUITY 177,062,611
INCOME & EXPENSE  
 Loan Income 2,854,585
 Investment Income 115,223
 Other Income 597,003
 Total Employee Compensation & Benefits 1,907,709
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,015,055
 Non-operating Income & (Expense) 75,014
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 14,000
 Cost of Funds 372,425
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 75,115
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