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FRANKLIN MINT FEDERAL CREDIT UNION

Mar, 31, 2021 — FRANKLIN MINT FEDERAL CREDIT UNION is a federal credit union headquartered in CHADDS FORD, PA with 34 branch locations and about $1.52 billion in total assets. Opened 51 years ago in 1970, FRANKLIN MINT FEDERAL CREDIT UNION has about 118,195 members and employs 337 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: 231382306
Name:FRANKLIN MINT FEDERAL CREDIT UNION
Address:
(Main Office)
5 HILLMAN DR, STE 100
CHADDS FORD, PA 19317
Phone:(610) 325-5000
Fax:(610) 325-5265
Website:http://www.fmfcu.org
Branches:34 branch locations
Members:118,195
Credit Union Type:Federal Credit Union
Charter Number:20042
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1970
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$1,523,694,337
CEO/Manager:Michael B Magnavita
Chairperson:Leon Spencer

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • First Time Homebuyer Program
  • In-School Branches
  • Insurance/Investment Sales
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 224,339,541
TOTAL INVESTMENTS 207,593,576
Loans Held for Sale 12,477,204
 
 Real Estate Loans 657,264,762
 Unsecured Loans 163,188,752
 Other Loans 232,062,256
 TOTAL LOANS 1,052,515,770
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -11,635,638
 Land And Building 1,734,203
 Other Fixed Assets 6,081,745
 NCUSIF Deposit 11,054,635
 All Other Assets 19,533,301
  TOTAL ASSETS 1,523,694,337
LIABILITIES & CAPITAL:  
 Dividends Payable 591
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 46,230,365
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 335,144,816
 Regular shares 543,556,884
 All Other Shares & Deposits 489,597,150
  TOTAL SHARES & DEPOSITS 1,368,298,850
  TOTAL LIABILITIES 1,414,529,806
 Regular Reserve 6,739,863
 Other Reserves -681,712
 Undivided Earnings 103,106,380
  TOTAL EQUITY 109,164,531
  TOTAL LIABILITIES, SHARES, & EQUITY 1,523,694,337
INCOME & EXPENSE  
 Loan Income 11,118,232
 Investment Income 308,074
 Other Income 1,834,037
 Total Employee Compensation & Benefits 7,711,960
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,269,174
 Non-operating Income & (Expense) 80,573
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 700,000
 Cost of Funds 1,673,270
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,883,582
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