Jun, 30, 2024 — FEDCHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in LANHAM, MD with 6 branch locations and about $430.26 million in total assets. Opened 89 years ago in 1935, FEDCHOICE FEDERAL CREDIT UNION has about 24,084 members and employs 74 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| 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: | 6 branch locations |
| Members: | 24,084 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $430,261,142 |
| CEO/Manager: | Brett Noll |
| Chairperson: | Arthur Altman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 21,261,116 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 152,490,420 |
| Unsecured Loans | 41,587,813 |
| Other Loans | 70,841,514 |
| TOTAL LOANS | 265,490,905 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,919,780 |
| Land And Building | 4,129,547 |
| Other Fixed Assets | 546,615 |
| NCUSIF Deposit | 3,551,576 |
| All Other Assets | 171,471 |
| TOTAL ASSETS | 430,261,142 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,649,584 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 94,261,871 |
| Regular shares | 142,686,590 |
| All Other Shares & Deposits | 156,486,666 |
| TOTAL SHARES & DEPOSITS | 393,435,127 |
| TOTAL LIABILITIES | 401,084,711 |
| Regular Reserve | 0 |
| Other Reserves | -7,552,690 |
| Undivided Earnings | 36,729,121 |
| TOTAL EQUITY | 29,176,431 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 430,261,142 |
| INCOME & EXPENSE | |
| Loan Income | 8,229,329 |
| Investment Income | 2,198,784 |
| Other Income | 1,272,537 |
| Total Employee Compensation & Benefits | 5,259,726 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,864,805 |
| Non-operating Income & (Expense) | -6,005 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 333,328 |
| Cost of Funds | 1,042,739 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,644,949 |
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