Dec, 31, 2021 — COMMONWEALTH ONE FEDERAL CREDIT UNION (COFCU) is a federal credit union headquartered in ALEXANDRIA, VA with 7 branch locations and about $489.18 million in total assets. Opened 78 years ago in 1944, COMMONWEALTH ONE FEDERAL CREDIT UNION (COFCU) has about 34,548 members and employs 78 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMONWEALTH ONE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4875 Eisenhower Ave ALEXANDRIA, VA 22304-4886 |
| Phone: | (703) 823-5211 |
| Fax: | (703) 650-4003 |
| Website: | http://www.cofcu.org |
| Branches: | 7 branch locations |
| Members: | 34,548 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5134 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1944 |
| Last Audited: | Mar 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $489,178,462 |
| CEO/Manager: | Frank Wasson |
| Chairperson: | Rupert J Jennings |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 61,995,275 |
| TOTAL INVESTMENTS | 119,512,061 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 171,663,188 |
| Unsecured Loans | 43,050,882 |
| Other Loans | 63,736,013 |
| TOTAL LOANS | 278,450,083 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,970,511 |
| Land And Building | 4,834,112 |
| Other Fixed Assets | 1,340,184 |
| NCUSIF Deposit | 4,043,819 |
| All Other Assets | 20,973,439 |
| TOTAL ASSETS | 489,178,462 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 415,594 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,303,591 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 100,730,026 |
| Regular shares | 146,118,349 |
| All Other Shares & Deposits | 194,103,971 |
| TOTAL SHARES & DEPOSITS | 440,952,346 |
| TOTAL LIABILITIES | 442,671,531 |
| Regular Reserve | 6,298,552 |
| Other Reserves | -571,252 |
| Undivided Earnings | 40,779,631 |
| TOTAL EQUITY | 46,506,931 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 489,178,462 |
| INCOME & EXPENSE | |
| Loan Income | 12,282,948 |
| Investment Income | 1,191,673 |
| Other Income | 3,646,033 |
| Total Employee Compensation & Benefits | 6,827,210 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,321,218 |
| Non-operating Income & (Expense) | 202,153 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 808,825 |
| Cost of Funds | 2,135,054 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,707,819 |
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