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LAFAYETTE FEDERAL CREDIT UNION

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.


ABA Routing Number: 254074811
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

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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