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BENCHMARK FEDERAL CREDIT UNION

Dec, 31, 2023 — BENCHMARK FEDERAL CREDIT UNION is a federal credit union headquartered in WEST CHESTER, PA with 3 branch locations and about $310.87 million in total assets. Opened 84 years ago in 1940, BENCHMARK FEDERAL CREDIT UNION has about 10,412 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:BENCHMARK FEDERAL CREDIT UNION
Address:
(Main Office)
1522 McDaniel Dr
WEST CHESTER, PA 19380
Phone:(610) 429-1600
Fax:(610) 429-1607
Website:https://www.benchmarkfcu.org
Branches:3 branch locations
Members:10,412
Credit Union Type:Federal Credit Union
Charter Number:3738
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1940
Last Audited:Dec 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$310,870,134
CEO/Manager:Daniel J Machon Jr
Chairperson:Adam Lush

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,550,041
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 216,839,078
 Unsecured Loans 13,887,050
 Other Loans 31,333,342
 TOTAL LOANS 262,059,470
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,783,091
 Land And Building 1,106,409
 Other Fixed Assets 418,885
 NCUSIF Deposit 2,339,522
 All Other Assets 0
  TOTAL ASSETS 310,870,134
LIABILITIES & CAPITAL:  
 Dividends Payable 5,048
 Notes & Interest Payable 19,401,608
 Accounts Payable & Other Liabilities 555,195
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 45,625,033
 Regular shares 67,678,013
 All Other Shares & Deposits 152,366,148
  TOTAL SHARES & DEPOSITS 265,669,194
  TOTAL LIABILITIES 285,636,045
 Regular Reserve 0
 Other Reserves -5,942,211
 Undivided Earnings 31,176,300
  TOTAL EQUITY 25,234,089
  TOTAL LIABILITIES, SHARES, & EQUITY 310,870,134
INCOME & EXPENSE  
 Loan Income 10,389,773
 Investment Income 1,124,812
 Other Income 169,295
 Total Employee Compensation & Benefits 2,832,345
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,255,309
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 310,000
 Cost of Funds 5,114,373
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 752,906
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