Dec, 31, 2023 — FRANKLIN MINT FEDERAL CREDIT UNION is a federal credit union headquartered in CHADDS FORD, PA with 16 branch locations and about $1.84 billion in total assets. Opened 54 years ago in 1970, FRANKLIN MINT FEDERAL CREDIT UNION has about 148,019 members and employs 332 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FRANKLIN MINT FEDERAL CREDIT UNION |
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Address: (Main Office) | 5 Hillman Dr CHADDS FORD, PA 19317 |
Phone: | (610) 325-5000 |
Fax: | (610) 325-5265 |
Website: | https://www.fmfcu.org |
Branches: | 16 branch locations |
Members: | 148,019 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 20042 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1970 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,837,459,399 |
CEO/Manager: | Michael B Magnavita |
Chairperson: | Leon Spencer |
ASSETS: | $ Amount |
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Cash & Equivalents | 103,716,943 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 56,250 |
Real Estate Loans | 972,219,611 |
Unsecured Loans | 214,465,030 |
Other Loans | 253,459,648 |
TOTAL LOANS | 1,440,144,289 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,511,775 |
Land And Building | 23,351,051 |
Other Fixed Assets | 19,564,643 |
NCUSIF Deposit | 14,910,320 |
All Other Assets | 258,764 |
TOTAL ASSETS | 1,837,459,399 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 7,340 |
Notes & Interest Payable | 81,182,256 |
Accounts Payable & Other Liabilities | 50,128,997 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 343,366,453 |
Regular shares | 588,019,937 |
All Other Shares & Deposits | 676,985,012 |
TOTAL SHARES & DEPOSITS | 1,608,371,402 |
TOTAL LIABILITIES | 1,739,689,995 |
Regular Reserve | 0 |
Other Reserves | -39,408,839 |
Undivided Earnings | 137,178,243 |
TOTAL EQUITY | 97,769,404 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,837,459,399 |
INCOME & EXPENSE | |
Loan Income | 72,780,059 |
Investment Income | 8,108,464 |
Other Income | 8,077,735 |
Total Employee Compensation & Benefits | 33,028,922 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 29,312,854 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,300,000 |
Cost of Funds | 25,307,550 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 6,048,624 |
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