Dec, 31, 2023 — ANDREWS FEDERAL CREDIT UNION is a federal credit union headquartered in SUITLAND, MD with 16 branch locations and about $2.31 billion in total assets. Opened 76 years ago in 1948, ANDREWS FEDERAL CREDIT UNION has about 131,745 members and employs 313 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ANDREWS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5711 Allentown Rd SUITLAND, MD 20746 |
| Phone: | (800) 487-5500 |
| Fax: | (301) 702-5319 |
| Website: | https://andrewsfcu.org |
| Branches: | 16 branch locations |
| Members: | 131,745 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5754 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,313,563,467 |
| CEO/Manager: | Kenneth Orgeron |
| Chairperson: | Kenneth E McKinney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 153,879,236 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,428,472,723 |
| Unsecured Loans | 153,494,814 |
| Other Loans | 326,664,027 |
| TOTAL LOANS | 1,918,630,483 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,187,609 |
| Land And Building | 13,449,119 |
| Other Fixed Assets | 5,865,218 |
| NCUSIF Deposit | 17,252,172 |
| All Other Assets | 332,585 |
| TOTAL ASSETS | 2,313,563,467 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 165,000,000 |
| Accounts Payable & Other Liabilities | 38,722,133 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 314,508,512 |
| Regular shares | 475,782,745 |
| All Other Shares & Deposits | 1,070,903,934 |
| TOTAL SHARES & DEPOSITS | 1,861,195,191 |
| TOTAL LIABILITIES | 2,064,917,324 |
| Regular Reserve | 0 |
| Other Reserves | -4,488,272 |
| Undivided Earnings | 253,134,415 |
| TOTAL EQUITY | 248,646,143 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,313,563,467 |
| INCOME & EXPENSE | |
| Loan Income | 98,484,680 |
| Investment Income | 12,360,637 |
| Other Income | 9,910,197 |
| Total Employee Compensation & Benefits | 34,809,704 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 36,259,336 |
| Non-operating Income & (Expense) | 85,385 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,353,603 |
| Cost of Funds | 36,883,767 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 18,431,544 |
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