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DEMOCRACY FEDERAL CREDIT UNION

Dec, 31, 2020 — DEMOCRACY FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, VA with 5 branch locations and about $172.29 million in total assets. Opened 85 years ago in 1936, DEMOCRACY FEDERAL CREDIT UNION has about 13,696 members and employs 44 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:13,696
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:$172,289,732
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 21,516,566
TOTAL INVESTMENTS 22,132,323
Loans Held for Sale 0
 
 Real Estate Loans 82,920,102
 Unsecured Loans 23,038,893
 Other Loans 10,867,522
 TOTAL LOANS 116,826,517
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -910,154
 Land And Building 2,044,270
 Other Fixed Assets 445,099
 NCUSIF Deposit 1,413,337
 All Other Assets 8,821,774
  TOTAL ASSETS 172,289,732
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,635,205
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 27,511,296
 Regular shares 53,524,995
 All Other Shares & Deposits 73,727,650
  TOTAL SHARES & DEPOSITS 154,763,941
  TOTAL LIABILITIES 156,399,146
 Regular Reserve 649,351
 Other Reserves 266,671
 Undivided Earnings 14,974,564
  TOTAL EQUITY 15,890,586
  TOTAL LIABILITIES, SHARES, & EQUITY 172,289,732
INCOME & EXPENSE  
 Loan Income 6,016,283
 Investment Income 451,637
 Other Income 2,125,073
 Total Employee Compensation & Benefits 3,889,227
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,090,780
 Non-operating Income & (Expense) 271,660
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 633,500
 Cost of Funds 1,033,798
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -782,652
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