Jun, 30, 2024 — CHESSIE FEDERAL CREDIT UNION is a federal credit union headquartered in CUMBERLAND, MD with 10 branch locations and about $442.51 million in total assets. Opened 77 years ago in 1948, CHESSIE FEDERAL CREDIT UNION has about 35,377 members and employs 96 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CHESSIE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 15 Commerce Dr CUMBERLAND, MD 21502 |
| Phone: | (301) 777-1781 |
| Fax: | (301) 777-1757 |
| Website: | https://www.chessiefcu.org |
| Branches: | 10 branch locations |
| Members: | 35,377 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5636 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $442,506,423 |
| CEO/Manager: | Scott Kline |
| Chairperson: | Walter R Beall |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 47,484,047 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 137,982,435 |
| Unsecured Loans | 16,238,548 |
| Other Loans | 107,323,877 |
| TOTAL LOANS | 262,921,773 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,239,453 |
| Land And Building | 10,101,595 |
| Other Fixed Assets | 955,783 |
| NCUSIF Deposit | 3,859,118 |
| All Other Assets | 396,009 |
| TOTAL ASSETS | 442,506,423 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,071,166 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 74,336,568 |
| Regular shares | 211,344,859 |
| All Other Shares & Deposits | 114,383,425 |
| TOTAL SHARES & DEPOSITS | 400,064,852 |
| TOTAL LIABILITIES | 403,136,018 |
| Regular Reserve | 0 |
| Other Reserves | 11,736,095 |
| Undivided Earnings | 27,634,310 |
| TOTAL EQUITY | 39,370,405 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 442,506,423 |
| INCOME & EXPENSE | |
| Loan Income | 7,970,976 |
| Investment Income | 1,375,384 |
| Other Income | 3,383,144 |
| Total Employee Compensation & Benefits | 4,311,688 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,348,574 |
| Non-operating Income & (Expense) | -189,950 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 169,000 |
| Cost of Funds | 963,241 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,240,136 |
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