Jun, 30, 2024 — ACT 1ST FEDERAL CREDIT UNION is a federal credit union headquartered in LAVALE, MD with 6 branch locations and about $151.61 million in total assets. Opened 75 years ago in 1950, ACT 1ST FEDERAL CREDIT UNION has about 13,825 members and employs 51 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ACT 1ST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 14316 National Hwy SW LAVALE, MD 21502 |
| Phone: | (301) 729-8015 |
| Fax: | (301) 729-2147 |
| Website: | https://www.act1stfcu.org |
| Branches: | 6 branch locations |
| Members: | 13,825 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6679 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $151,607,944 |
| CEO/Manager: | Christie L Clark |
| Chairperson: | Shawnee L McElfish |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,861,042 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 30,029,611 |
| Unsecured Loans | 7,585,609 |
| Other Loans | 69,287,212 |
| TOTAL LOANS | 106,902,432 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -243,202 |
| Land And Building | 4,204,338 |
| Other Fixed Assets | 1,131,198 |
| NCUSIF Deposit | 1,346,850 |
| All Other Assets | 286,808 |
| TOTAL ASSETS | 151,607,944 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -131,097 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,530,651 |
| Regular shares | 65,779,461 |
| All Other Shares & Deposits | 55,388,121 |
| TOTAL SHARES & DEPOSITS | 139,698,233 |
| TOTAL LIABILITIES | 139,567,136 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 12,040,808 |
| TOTAL EQUITY | 12,040,808 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 151,607,944 |
| INCOME & EXPENSE | |
| Loan Income | 3,593,516 |
| Investment Income | 358,270 |
| Other Income | 352,629 |
| Total Employee Compensation & Benefits | 1,927,869 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,067,942 |
| Non-operating Income & (Expense) | 31,132 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 184,043 |
| Cost of Funds | 564,234 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 113,333 |
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