Sep, 30, 2025 — DESCO FEDERAL CREDIT UNION is a federal credit union headquartered in PORTSMOUTH, OH with 9 branch locations and about $510.91 million in total assets. Opened 63 years ago in 1963, DESCO FEDERAL CREDIT UNION has about 25,202 members and employs 117 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DESCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 401 Chillicothe St PORTSMOUTH, OH 45662 |
| Phone: | (740) 354-7791 |
| Fax: | (740) 353-0745 |
| Website: | https://www.descofcu.org |
| Branches: | 9 branch locations |
| Members: | 25,202 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15882 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $510,908,273 |
| CEO/Manager: | Jeff Lyons |
| Chairperson: | Richard N Bussa |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 80,080,635 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 259,811,821 |
| Unsecured Loans | 9,949,702 |
| Other Loans | 44,820,237 |
| TOTAL LOANS | 317,289,636 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,015,843 |
| Land And Building | 13,038,264 |
| Other Fixed Assets | 1,083,404 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,889,908 |
| All Other Assets | 0 |
| TOTAL ASSETS | 510,908,273 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,798,402 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 5,927,539 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 143,846,731 |
| Regular shares | 118,033,043 |
| All Other Shares & Deposits | 184,425,262 |
| TOTAL SHARES & DEPOSITS | 446,305,038 |
| TOTAL LIABILITIES | 454,030,979 |
| Regular Reserve | 0 |
| Other Reserves | 18,979,750 |
| Undivided Earnings | 37,897,544 |
| TOTAL EQUITY | 56,877,294 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 510,908,273 |
| INCOME & EXPENSE | |
| Loan Income | 13,195,594 |
| Investment Income | 4,882,507 |
| Other Income | 2,728,559 |
| Total Employee Compensation & Benefits | 6,538,857 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 6,134,819 |
| Non-operating Income & (Expense) | 3,553 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 475,000 |
| Cost of Funds | 5,634,140 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,678,949 |
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