Dec, 31, 2023 — NAVY FEDERAL CREDIT UNION (NFCU) is a federal credit union headquartered in VIENNA, VA with 359 branch locations and about $170.80 billion in total assets. Opened 77 years ago in 1947, NAVY FEDERAL CREDIT UNION (NFCU) has more than 13.3 million members and employs 24,284 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NAVY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 820 Follin Ln SE VIENNA, VA 22180 |
| Phone: | (888) 842-6328 |
| Fax: | |
| Website: | https://www.navyfcu.org |
| Branches: | 359 branch locations |
| Members: | 13,342,112 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5536 |
|---|---|
| Membership Type: | Military |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $170,801,084,823 |
| CEO/Manager: | Mary A McDuffie |
| Chairperson: | Edward R Cochrane Jr. |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,957,420,055 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 3,350,654,916 |
| Real Estate Loans | 55,057,957,046 |
| Unsecured Loans | 37,442,345,950 |
| Other Loans | 31,315,405,150 |
| TOTAL LOANS | 123,815,708,147 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,813,422,013 |
| Land And Building | 1,632,787,012 |
| Other Fixed Assets | 1,150,829,906 |
| NCUSIF Deposit | 1,320,392,569 |
| All Other Assets | 44,197,990 |
| TOTAL ASSETS | 170,801,084,823 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 7,165,000,000 |
| Accounts Payable & Other Liabilities | 5,065,724,662 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 29,163,798,450 |
| Regular shares | 33,500,981,120 |
| All Other Shares & Deposits | 81,666,521,544 |
| TOTAL SHARES & DEPOSITS | 144,331,301,114 |
| TOTAL LIABILITIES | 156,562,025,776 |
| Regular Reserve | 0 |
| Other Reserves | 13,839,250,471 |
| Undivided Earnings | 399,808,576 |
| TOTAL EQUITY | 14,239,059,047 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 170,801,084,823 |
| INCOME & EXPENSE | |
| Loan Income | 8,880,969,404 |
| Investment Income | 1,462,742,804 |
| Other Income | 782,856,688 |
| Total Employee Compensation & Benefits | 2,934,663,556 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,414,516,571 |
| Non-operating Income & (Expense) | 11,389,164 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,200,007,139 |
| Cost of Funds | 2,594,764,598 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,367,698,881 |
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