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FEDCHOICE FEDERAL CREDIT UNION

Dec, 31, 2023 — FEDCHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in LANHAM, MD with 5 branch locations and about $431.53 million in total assets. Opened 89 years ago in 1935, FEDCHOICE FEDERAL CREDIT UNION has about 24,392 members and employs 79 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: 254074785
Name:FEDCHOICE FEDERAL CREDIT UNION
Address:
(Main Office)
10001 Willowdale Rd
LANHAM, MD 20706-4321
Phone:(301) 699-6100
Fax:
Website:https://www.fedchoice.org
Branches:5 branch locations
Members:24,392
Credit Union Type:Federal Credit Union
Charter Number:150
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1935
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$431,528,837
CEO/Manager:Brett Noll
Chairperson:Arthur Altman

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 16,364,180
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 159,849,498
 Unsecured Loans 41,118,132
 Other Loans 88,818,462
 TOTAL LOANS 290,173,637
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,989,718
 Land And Building 4,367,515
 Other Fixed Assets 397,855
 NCUSIF Deposit 3,557,847
 All Other Assets 936,374
  TOTAL ASSETS 431,528,837
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,738,345
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 94,599,216
 Regular shares 135,279,100
 All Other Shares & Deposits 162,852,705
  TOTAL SHARES & DEPOSITS 392,731,021
  TOTAL LIABILITIES 398,469,366
 Regular Reserve 0
 Other Reserves -6,613,978
 Undivided Earnings 39,673,449
  TOTAL EQUITY 33,059,471
  TOTAL LIABILITIES, SHARES, & EQUITY 431,528,837
INCOME & EXPENSE  
 Loan Income 15,267,777
 Investment Income 5,691,694
 Other Income 1,884,827
 Total Employee Compensation & Benefits 9,297,415
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 7,085,995
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,956,132
 Cost of Funds 4,460,197
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,737,059
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