Dec, 31, 2023 — MEMBERS FIRST OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in BALTIMORE, MD with 2 branch locations and about $24.21 million in total assets. Opened 55 years ago in 1969, MEMBERS FIRST OF MARYLAND FEDERAL CREDIT UNION has about 2,589 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS FIRST OF MARYLAND FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1631 Merritt Blvd BALTIMORE, MD 21222 |
| Phone: | (410) 633-8850 |
| Fax: | (410) 633-2120 |
| Website: | https://www.mfirstcu.org |
| Branches: | 2 branch locations |
| Members: | 2,589 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24855 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Mar 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $24,205,745 |
| CEO/Manager: | Byron Lassiter |
| Chairperson: | Jerry Ernest |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,616,449 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,090,750 |
| Unsecured Loans | 1,322,599 |
| Other Loans | 4,105,894 |
| TOTAL LOANS | 8,519,243 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -198,631 |
| Land And Building | 0 |
| Other Fixed Assets | 65,122 |
| NCUSIF Deposit | 241,307 |
| All Other Assets | 0 |
| TOTAL ASSETS | 24,205,745 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 97 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -406,658 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,197,518 |
| Regular shares | 19,100,315 |
| All Other Shares & Deposits | 923,748 |
| TOTAL SHARES & DEPOSITS | 23,221,581 |
| TOTAL LIABILITIES | 22,815,020 |
| Regular Reserve | 0 |
| Other Reserves | 1,208,223 |
| Undivided Earnings | 182,502 |
| TOTAL EQUITY | 1,390,725 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 24,205,745 |
| INCOME & EXPENSE | |
| Loan Income | 550,066 |
| Investment Income | 536,909 |
| Other Income | 253,866 |
| Total Employee Compensation & Benefits | 562,813 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,014,438 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -25,500 |
| Cost of Funds | 21,399 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -158,081 |
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