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MID-ATLANTIC FEDERAL CREDIT UNION

Jun, 30, 2024 — MID-ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in GERMANTOWN, MD with 4 branch locations and about $425.48 million in total assets. Opened 56 years ago in 1968, MID-ATLANTIC FEDERAL CREDIT UNION has about 19,681 members and employs 64 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: 255077477
Name:MID-ATLANTIC FEDERAL CREDIT UNION
Address:
(Main Office)
12820 Wisteria Dr
GERMANTOWN, MD 20874-2627
Phone:(301) 944-1800
Fax:(301) 944-1801
Website:https://www.mafcu.org
Branches:4 branch locations
Members:19,681
Credit Union Type:Federal Credit Union
Charter Number:18716
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1968
Last Audited:Sep 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$425,479,872
CEO/Manager:William A Brooks, Sr.
Chairperson:Randy Scritchfield

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 56,700,447
TOTAL INVESTMENTS 0
Loans Held for Sale 482,090
 
 Real Estate Loans 287,825,183
 Unsecured Loans 15,290,152
 Other Loans 27,447,313
 TOTAL LOANS 330,562,648
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,591,530
 Land And Building 3,694,220
 Other Fixed Assets 2,030,077
 NCUSIF Deposit 3,446,713
 All Other Assets 0
  TOTAL ASSETS 425,479,872
LIABILITIES & CAPITAL:  
 Dividends Payable 147,669
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,307,010
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 145,258,044
 Regular shares 144,833,776
 All Other Shares & Deposits 101,527,416
  TOTAL SHARES & DEPOSITS 391,619,236
  TOTAL LIABILITIES 395,073,915
 Regular Reserve 0
 Other Reserves -321,525
 Undivided Earnings 30,727,482
  TOTAL EQUITY 30,405,957
  TOTAL LIABILITIES, SHARES, & EQUITY 425,479,872
INCOME & EXPENSE  
 Loan Income 8,832,450
 Investment Income 710,585
 Other Income 740,469
 Total Employee Compensation & Benefits 4,276,531
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,067,799
 Non-operating Income & (Expense) 901,317
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -195,332
 Cost of Funds 612,468
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,111,768
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