Jun, 30, 2024 — SKYPOINT FEDERAL CREDIT UNION is a federal credit union headquartered in GERMANTOWN, MD with 3 branch locations and about $204.90 million in total assets. Opened 57 years ago in 1968, SKYPOINT FEDERAL CREDIT UNION has about 13,716 members and employs 37 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SKYPOINT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 19785 CRYSTAL ROCK DR Ste 201 GERMANTOWN, MD 20874 |
| Phone: | (301) 528-8421 |
| Fax: | (301) 528-8253 |
| Website: | https://www.skypointfcu.com |
| Branches: | 3 branch locations |
| Members: | 13,716 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18917 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1968 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $204,901,307 |
| CEO/Manager: | James Norris |
| Chairperson: | Melvin Tull |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,986,655 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 86,930,934 |
| Unsecured Loans | 29,822,250 |
| Other Loans | 33,119,450 |
| TOTAL LOANS | 149,872,634 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -843,556 |
| Land And Building | 6,768,771 |
| Other Fixed Assets | 382,295 |
| NCUSIF Deposit | 1,732,062 |
| All Other Assets | 0 |
| TOTAL ASSETS | 204,901,307 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,603,098 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 7,000,000 |
| Share Drafts | 45,315,338 |
| Regular shares | 103,861,644 |
| All Other Shares & Deposits | 30,194,832 |
| TOTAL SHARES & DEPOSITS | 179,371,814 |
| TOTAL LIABILITIES | 188,974,912 |
| Regular Reserve | 0 |
| Other Reserves | -3,129,743 |
| Undivided Earnings | 19,056,138 |
| TOTAL EQUITY | 15,926,395 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 204,901,307 |
| INCOME & EXPENSE | |
| Loan Income | 5,017,915 |
| Investment Income | 577,677 |
| Other Income | 1,161,758 |
| Total Employee Compensation & Benefits | 2,977,614 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,321,871 |
| Non-operating Income & (Expense) | 657,131 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 526,000 |
| Cost of Funds | 189,413 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 884,713 |
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