Dec, 31, 2023 — SECURITYPLUS FEDERAL CREDIT UNION is a federal credit union headquartered in BALTIMORE, MD with 5 branch locations and about $579.28 million in total assets. Opened 86 years ago in 1938, SECURITYPLUS FEDERAL CREDIT UNION has about 35,918 members and employs 83 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SECURITYPLUS FEDERAL CREDIT UNION |
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Address: (Main Office) | 7135 Windsor Blvd BALTIMORE, MD 21244 |
Phone: | (410) 281-6200 |
Fax: | (410) 281-6273 |
Website: | https://www.securityplusfcu.org |
Branches: | 5 branch locations |
Members: | 35,918 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2769 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $579,278,505 |
CEO/Manager: | Tricia Szurgot |
Chairperson: | Barbara G Cuffie |
ASSETS: | $ Amount |
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Cash & Equivalents | 79,742,939 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 278,050,131 |
Unsecured Loans | 26,983,680 |
Other Loans | 108,558,852 |
TOTAL LOANS | 413,592,663 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,602,576 |
Land And Building | 2,756,700 |
Other Fixed Assets | 3,476,270 |
NCUSIF Deposit | 4,068,942 |
All Other Assets | 0 |
TOTAL ASSETS | 579,278,505 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 14,250,000 |
Accounts Payable & Other Liabilities | 7,518,408 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 4,600,000 |
Share Drafts | 86,871,724 |
Regular shares | 196,159,430 |
All Other Shares & Deposits | 223,209,575 |
TOTAL SHARES & DEPOSITS | 506,240,729 |
TOTAL LIABILITIES | 532,609,137 |
Regular Reserve | 0 |
Other Reserves | -1,391,045 |
Undivided Earnings | 48,060,413 |
TOTAL EQUITY | 46,669,368 |
TOTAL LIABILITIES, SHARES, & EQUITY | 579,278,505 |
INCOME & EXPENSE | |
Loan Income | 18,457,396 |
Investment Income | 5,149,812 |
Other Income | 2,347,425 |
Total Employee Compensation & Benefits | 8,878,882 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,064,099 |
Non-operating Income & (Expense) | 38 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,051,686 |
Cost of Funds | 4,382,678 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,682,104 |
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