Dec, 31, 2023 — CHESSIE FEDERAL CREDIT UNION is a federal credit union headquartered in CUMBERLAND, MD with 10 branch locations and about $411.90 million in total assets. Opened 76 years ago in 1948, CHESSIE FEDERAL CREDIT UNION has about 34,383 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: | 34,383 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $411,897,366 |
| CEO/Manager: | Scott Kline |
| Chairperson: | Walter R Beall |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 50,775,019 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 138,552,341 |
| Unsecured Loans | 17,999,700 |
| Other Loans | 119,935,625 |
| TOTAL LOANS | 277,936,974 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,509,665 |
| Land And Building | 10,496,847 |
| Other Fixed Assets | 1,345,172 |
| NCUSIF Deposit | 3,839,832 |
| All Other Assets | 484,336 |
| TOTAL ASSETS | 411,897,366 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,633,742 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 71,060,006 |
| Regular shares | 190,527,088 |
| All Other Shares & Deposits | 102,050,282 |
| TOTAL SHARES & DEPOSITS | 363,637,378 |
| TOTAL LIABILITIES | 366,460,334 |
| Regular Reserve | 0 |
| Other Reserves | 11,679,567 |
| Undivided Earnings | 33,757,465 |
| TOTAL EQUITY | 45,437,032 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 411,897,366 |
| INCOME & EXPENSE | |
| Loan Income | 13,580,446 |
| Investment Income | 3,801,777 |
| Other Income | 4,600,161 |
| Total Employee Compensation & Benefits | 6,632,780 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,854,711 |
| Non-operating Income & (Expense) | -19,900 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 539,418 |
| Cost of Funds | 2,139,219 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,318,971 |
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