Jun, 30, 2024 — TRANSIT EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in GREENBELT, MD with 2 branch locations and about $101.96 million in total assets. Opened 85 years ago in 1940, TRANSIT EMPLOYEES FEDERAL CREDIT UNION has about 12,247 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRANSIT EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 6404 Ivy Ln Ste 510 GREENBELT, MD 20770-1426 |
| Phone: | (301) 289-9800 |
| Fax: | (301) 576-7392 |
| Website: | https://www.tefcu.org |
| Branches: | 2 branch locations |
| Members: | 12,247 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3764 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $101,956,570 |
| CEO/Manager: | Rita Smith |
| Chairperson: | Alvin Richardson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,185,080 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 29,186,035 |
| Unsecured Loans | 18,249,294 |
| Other Loans | 6,636,149 |
| TOTAL LOANS | 54,549,677 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -139,539 |
| Land And Building | 0 |
| Other Fixed Assets | 837,932 |
| NCUSIF Deposit | 843,036 |
| All Other Assets | 248,918 |
| TOTAL ASSETS | 101,956,570 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 542,385 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,222,211 |
| Regular shares | 41,067,416 |
| All Other Shares & Deposits | 34,687,020 |
| TOTAL SHARES & DEPOSITS | 86,976,647 |
| TOTAL LIABILITIES | 87,519,032 |
| Regular Reserve | 0 |
| Other Reserves | 3,185,508 |
| Undivided Earnings | 11,252,030 |
| TOTAL EQUITY | 14,437,538 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 101,956,570 |
| INCOME & EXPENSE | |
| Loan Income | 2,011,016 |
| Investment Income | 718,379 |
| Other Income | 1,850,810 |
| Total Employee Compensation & Benefits | 1,690,652 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,633,275 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,667 |
| Cost of Funds | 339,417 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -92,637 |
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