Dec, 31, 2023 — LAFAYETTE FEDERAL CREDIT UNION is a federal credit union headquartered in ROCKVILLE, MD with 9 branch locations and about $1.96 billion in total assets. Opened 89 years ago in 1935, LAFAYETTE FEDERAL CREDIT UNION has about 57,078 members and employs 186 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: | https://www.lfcu.org |
| Branches: | 9 branch locations |
| Members: | 57,078 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,955,584,335 |
| CEO/Manager: | John Farmakides |
| Chairperson: | Nathan ' Gus' Siekierka |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 268,545,073 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 520,373,080 |
| Unsecured Loans | 893,471,604 |
| Other Loans | 149,555,798 |
| TOTAL LOANS | 1,563,400,482 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -63,929,111 |
| Land And Building | 11,156,148 |
| Other Fixed Assets | 3,074,953 |
| NCUSIF Deposit | 12,574,541 |
| All Other Assets | 96,000 |
| TOTAL ASSETS | 1,955,584,335 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9,946,874 |
| Notes & Interest Payable | 40,000,000 |
| Accounts Payable & Other Liabilities | 25,195,367 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 15,000,000 |
| Share Drafts | 147,832,834 |
| Regular shares | 80,923,712 |
| All Other Shares & Deposits | 1,407,416,576 |
| TOTAL SHARES & DEPOSITS | 1,636,173,122 |
| TOTAL LIABILITIES | 1,726,315,363 |
| Regular Reserve | 0 |
| Other Reserves | 11,220,013 |
| Undivided Earnings | 218,048,959 |
| TOTAL EQUITY | 229,268,972 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,955,584,335 |
| INCOME & EXPENSE | |
| Loan Income | 96,985,062 |
| Investment Income | 14,740,964 |
| Other Income | 41,214,277 |
| Total Employee Compensation & Benefits | 20,391,578 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 17,964,446 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 26,801,552 |
| Cost of Funds | 47,704,566 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 26,248,337 |
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