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FEDFINANCIAL FEDERAL CREDIT UNION

Jun, 30, 2024 — FEDFINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in SILVER SPRING, MD with 1 branch location and about $87.57 million in total assets. Opened 90 years ago in 1935, FEDFINANCIAL FEDERAL CREDIT UNION has about 4,089 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FEDFINANCIAL FEDERAL CREDIT UNION
Address:
(Main Office)
11233 Lockwood Dr
SILVER SPRING, MD 20901-4554
Phone:(301) 881-5626
Fax:(301) 881-3024
Website:https://www.fedfinancial.org
Branches:1 branch locations
Members:4,089
Credit Union Type:Federal Credit Union
Charter Number:216
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1935
Last Audited:Mar 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$87,566,918
CEO/Manager:Jonathan A Rhodes
Chairperson:Russell J Abbott

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,655,703
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 8,306,297
 Unsecured Loans 4,693,322
 Other Loans 5,808,147
 TOTAL LOANS 18,807,766
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -50,029
 Land And Building 364,252
 Other Fixed Assets 181,868
 NCUSIF Deposit 707,870
 All Other Assets 0
  TOTAL ASSETS 87,566,918
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 535,911
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 29,576,174
 Regular shares 35,994,993
 All Other Shares & Deposits 14,865,059
  TOTAL SHARES & DEPOSITS 80,436,226
  TOTAL LIABILITIES 80,972,137
 Regular Reserve 0
 Other Reserves 610,080
 Undivided Earnings 5,984,701
  TOTAL EQUITY 6,594,781
  TOTAL LIABILITIES, SHARES, & EQUITY 87,566,918
INCOME & EXPENSE  
 Loan Income 596,236
 Investment Income 741,879
 Other Income 168,980
 Total Employee Compensation & Benefits 1,040,326
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 829,542
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -17,380
 Cost of Funds 96,261
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -38,335
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