Mar, 31, 2022 — LAFAYETTE FEDERAL CREDIT UNION is a federal credit union headquartered in ROCKVILLE, MD with 9 branch locations and about $1.43 billion in total assets. Opened 87 years ago in 1935, LAFAYETTE FEDERAL CREDIT UNION has about 51,339 members and employs 154 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LAFAYETTE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2701 Tower Oaks Blvd ROCKVILLE, MD 20852 |
| Phone: | (301) 929-7990 |
| Fax: | |
| Website: | http://www.lfcu.org |
| Branches: | 9 branch locations |
| Members: | 51,339 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 619 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,425,766,251 |
| CEO/Manager: | John Farmakides |
| Chairperson: | Nathan ' Gus' Siekierka |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 213,929,151 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 300,113,226 |
| Unsecured Loans | 655,189,819 |
| Other Loans | 109,948,187 |
| TOTAL LOANS | 1,065,251,232 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,791,155 |
| Land And Building | 5,848,967 |
| Other Fixed Assets | 1,885,395 |
| NCUSIF Deposit | 7,536,611 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,425,766,251 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 369,458 |
| Notes & Interest Payable | 60,000,000 |
| Accounts Payable & Other Liabilities | 59,063,836 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 15,000,000 |
| Share Drafts | 178,602,894 |
| Regular shares | 97,756,059 |
| All Other Shares & Deposits | 798,793,468 |
| TOTAL SHARES & DEPOSITS | 1,075,152,421 |
| TOTAL LIABILITIES | 1,209,585,715 |
| Regular Reserve | 0 |
| Other Reserves | 11,258,109 |
| Undivided Earnings | 204,922,427 |
| TOTAL EQUITY | 216,180,536 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,425,766,251 |
| INCOME & EXPENSE | |
| Loan Income | 13,496,244 |
| Investment Income | 426,960 |
| Other Income | 10,213,044 |
| Total Employee Compensation & Benefits | 5,603,039 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,839,917 |
| Non-operating Income & (Expense) | 16,351,298 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,028,093 |
| Cost of Funds | 2,508,735 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 29,464,372 |
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