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FEDCHOICE FEDERAL CREDIT UNION

Mar, 31, 2021 — FEDCHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in LANHAM, MD with 6 branch locations and about $411.05 million in total assets. Opened 86 years ago in 1935, FEDCHOICE FEDERAL CREDIT UNION has about 24,201 members and employs 75 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 ROAD
LANHAM, MD 20706
Phone:(301) 699-6100
Fax:
Website:http://www.fedchoice.org
Branches:6 branch locations
Members:24,201
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$411,045,536
CEO/Manager:David E Bunch, Jr
Chairperson:Arthur Altman

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Indirect Mortgage Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 88,065,566
TOTAL INVESTMENTS 83,685,994
Loans Held for Sale 0
 
 Real Estate Loans 118,036,941
 Unsecured Loans 39,372,918
 Other Loans 63,799,193
 TOTAL LOANS 222,073,797
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -10,710,161
 Land And Building 4,421,791
 Other Fixed Assets 398,789
 NCUSIF Deposit 3,123,952
 All Other Assets 19,985,808
  TOTAL ASSETS 411,045,536
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,522,900
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 77,912,801
 Regular shares 131,498,037
 All Other Shares & Deposits 160,499,235
  TOTAL SHARES & DEPOSITS 369,910,073
  TOTAL LIABILITIES 376,432,973
 Regular Reserve 3,513,947
 Other Reserves 371,305
 Undivided Earnings 30,727,311
  TOTAL EQUITY 34,612,563
  TOTAL LIABILITIES, SHARES, & EQUITY 411,045,536
INCOME & EXPENSE  
 Loan Income 2,614,055
 Investment Income 424,375
 Other Income 344,168
 Total Employee Compensation & Benefits 1,911,301
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,183,117
 Non-operating Income & (Expense) -750
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 237,687
 Cost of Funds 311,516
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 151,531
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