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LOCAL 355 MD FEDERAL CREDIT UNION

Dec, 31, 2020 — LOCAL 355 MD FEDERAL CREDIT UNION is a federal credit union headquartered in BALTIMORE, MD with 1 branch location and about $5.44 million in total assets. Opened 59 years ago in 1962, LOCAL 355 MD FEDERAL CREDIT UNION has about 1,732 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LOCAL 355 MD FEDERAL CREDIT UNION
Address:
(Main Office)
1030 S DUKELAND ST
BALTIMORE, MD 21223-3303
Phone:(410) 566-5700
Fax:(410) 566-1485
Website:n/a
Branches:1 branch locations
Members:1,732
Credit Union Type:Federal Credit Union
Charter Number:14815
Membership Type:Associational - Other than religious or fraternal, or 'low-income'
Corporate Credit Union:No
Year Opened:1962
Last Audited:Aug 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$5,443,249
CEO/Manager:ROSE M QUEEN
Chairperson:LLOYD E ELGERT JR

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,492,441
TOTAL INVESTMENTS 3,169,341
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 355,223
 Other Loans 401,468
 TOTAL LOANS 756,691
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -17,296
 Land And Building 0
 Other Fixed Assets 3,905
 NCUSIF Deposit 37,419
 All Other Assets 748
  TOTAL ASSETS 5,443,249
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 0
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 4,310,684
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 4,310,684
  TOTAL LIABILITIES 4,310,684
 Regular Reserve 101,181
 Other Reserves 0
 Undivided Earnings 1,031,384
  TOTAL EQUITY 1,132,565
  TOTAL LIABILITIES, SHARES, & EQUITY 5,443,249
INCOME & EXPENSE  
 Loan Income 97,101
 Investment Income 44,480
 Other Income 6,240
 Total Employee Compensation & Benefits 88,345
 NCUSIF Premiums Expense 2,572
 Total Other Operating Expenses 28,951
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 30,586
 Cost of Funds 19,853
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -22,486
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