Dec, 31, 2023 — TRANSIT EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in GREENBELT, MD with 2 branch locations and about $94.49 million in total assets. Opened 84 years ago in 1940, TRANSIT EMPLOYEES FEDERAL CREDIT UNION has about 11,338 members and employs 23 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: | 11,338 |
| 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, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $94,494,656 |
| CEO/Manager: | Rita Smith |
| Chairperson: | Alvin Richardson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,455,341 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 25,668,485 |
| Unsecured Loans | 12,726,076 |
| Other Loans | 4,933,881 |
| TOTAL LOANS | 45,838,472 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -395,794 |
| Land And Building | 0 |
| Other Fixed Assets | 523,248 |
| NCUSIF Deposit | 818,713 |
| All Other Assets | 0 |
| TOTAL ASSETS | 94,494,656 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 678 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 718,739 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,992,712 |
| Regular shares | 37,546,088 |
| All Other Shares & Deposits | 30,921,313 |
| TOTAL SHARES & DEPOSITS | 79,460,112 |
| TOTAL LIABILITIES | 80,179,529 |
| Regular Reserve | 0 |
| Other Reserves | 4,541,112 |
| Undivided Earnings | 9,774,015 |
| TOTAL EQUITY | 14,315,127 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 94,494,656 |
| INCOME & EXPENSE | |
| Loan Income | 2,563,477 |
| Investment Income | 1,385,647 |
| Other Income | 2,472,793 |
| Total Employee Compensation & Benefits | 2,375,249 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,455,157 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,083,074 |
| Cost of Funds | 543,380 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -1,029,760 |
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