Dec, 31, 2023 — TOPSIDE FEDERAL CREDIT UNION is a federal credit union headquartered in DAHLGREN, VA with 4 branch locations and about $482.96 million in total assets. Opened 63 years ago in 1961, TOPSIDE FEDERAL CREDIT UNION has about 41,764 members and employs 112 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TOPSIDE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 17442 Dahlgren Rd DAHLGREN, VA 22448 |
| Phone: | (540) 663-2181 |
| Fax: | (540) 663-5674 |
| Website: | https://topsidefcu.org |
| Branches: | 4 branch locations |
| Members: | 41,764 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14754 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $482,962,579 |
| CEO/Manager: | Bruce A Six |
| Chairperson: | David A Martin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,607,310 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 202,949,499 |
| Unsecured Loans | 48,065,046 |
| Other Loans | 50,471,747 |
| TOTAL LOANS | 301,486,292 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,265,957 |
| Land And Building | 6,309,403 |
| Other Fixed Assets | 1,445,992 |
| NCUSIF Deposit | 4,184,014 |
| All Other Assets | 21,094 |
| TOTAL ASSETS | 482,962,579 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 24,969 |
| Notes & Interest Payable | 26,865,850 |
| Accounts Payable & Other Liabilities | 4,280,423 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 101,471,199 |
| Regular shares | 234,766,855 |
| All Other Shares & Deposits | 96,947,394 |
| TOTAL SHARES & DEPOSITS | 433,185,448 |
| TOTAL LIABILITIES | 464,356,690 |
| Regular Reserve | 0 |
| Other Reserves | -16,644,966 |
| Undivided Earnings | 35,250,855 |
| TOTAL EQUITY | 18,605,889 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 482,962,579 |
| INCOME & EXPENSE | |
| Loan Income | 17,466,798 |
| Investment Income | 3,238,518 |
| Other Income | 2,043,700 |
| Total Employee Compensation & Benefits | 8,794,238 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,428,299 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,156,902 |
| Cost of Funds | 3,558,007 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,594,902 |
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