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MEMBERS FIRST OF MARYLAND FEDERAL CREDIT UNION

Jun, 30, 2023 — MEMBERS FIRST OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in BALTIMORE, MD with 2 branch locations and about $26.71 million in total assets. Opened 55 years ago in 1969, MEMBERS FIRST OF MARYLAND FEDERAL CREDIT UNION has about 2,823 members and employs 12 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: 252076701
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:2,823
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$26,712,062
CEO/Manager:Byron Lassiter
Chairperson:Jerry Ernest

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,727,125
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,468,649
 Unsecured Loans 1,591,143
 Other Loans 3,351,757
 TOTAL LOANS 8,411,549
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -291,159
 Land And Building 0
 Other Fixed Assets 112,609
 NCUSIF Deposit 257,471
 All Other Assets 0
  TOTAL ASSETS 26,712,062
LIABILITIES & CAPITAL:  
 Dividends Payable 6,943
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 335,020
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,204,807
 Regular shares 20,747,981
 All Other Shares & Deposits 980,574
  TOTAL SHARES & DEPOSITS 24,933,362
  TOTAL LIABILITIES 25,275,325
 Regular Reserve 0
 Other Reserves 1,088,732
 Undivided Earnings 348,005
  TOTAL EQUITY 1,436,737
  TOTAL LIABILITIES, SHARES, & EQUITY 26,712,062
INCOME & EXPENSE  
 Loan Income 449,479
 Investment Income 109,639
 Other Income 207,650
 Total Employee Compensation & Benefits 397,861
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 539,839
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 16,278
 Cost of Funds 17,248
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -162,947
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