Dec, 31, 2023 — KOREAN CATHOLIC FEDERAL CREDIT UNION is a federal credit union headquartered in OLNEY, MD with 1 branch location and about $2.10 million in total assets. Opened 47 years ago in 1977, KOREAN CATHOLIC FEDERAL CREDIT UNION has about 332 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KOREAN CATHOLIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 17615 Old Baltimore Rd OLNEY, MD 20832 |
| Phone: | (301) 774-8191 |
| Fax: | |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 332 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 22700 |
|---|---|
| Membership Type: | Associational - Religious, other than those designated 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1977 |
| Last Audited: | Feb 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,101,608 |
| CEO/Manager: | Jennifer Seo |
| Chairperson: | Brian Y Kim |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 397,912 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 217,285 |
| Other Loans | 1,078,068 |
| TOTAL LOANS | 1,295,353 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -19,638 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 18,301 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,101,608 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,727 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,700,505 |
| All Other Shares & Deposits | 150,339 |
| TOTAL SHARES & DEPOSITS | 1,850,845 |
| TOTAL LIABILITIES | 1,859,572 |
| Regular Reserve | 0 |
| Other Reserves | 103,997 |
| Undivided Earnings | 138,039 |
| TOTAL EQUITY | 242,036 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,101,608 |
| INCOME & EXPENSE | |
| Loan Income | 54,914 |
| Investment Income | 7,357 |
| Other Income | 3,292 |
| Total Employee Compensation & Benefits | 41,123 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 33,154 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 2,140 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -10,854 |
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