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.
Name: | MID-ATLANTIC FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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