Dec, 31, 2023 — DIAMOND CREDIT UNION is a federally insured state chartered credit union headquartered in POTTSTOWN, PA with 7 branch locations and about $974.02 million in total assets. Opened 77 years ago in 1947, DIAMOND CREDIT UNION has about 66,305 members and employs 205 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DIAMOND CREDIT UNION |
|---|---|
| Address: (Main Office) | 1600 Medical Dr POTTSTOWN, PA 19464-3242 |
| Phone: | (610) 326-5490 |
| Fax: | (610) 718-0294 |
| Website: | https://www.diamondcu.org |
| Branches: | 7 branch locations |
| Members: | 66,305 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68241 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $974,020,333 |
| CEO/Manager: | Rick Patel |
| Chairperson: | Patrick M Austin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 109,448,572 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 384,486,132 |
| Unsecured Loans | 85,696,671 |
| Other Loans | 119,557,095 |
| TOTAL LOANS | 589,739,898 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,683,602 |
| Land And Building | 16,549,422 |
| Other Fixed Assets | 6,597,853 |
| NCUSIF Deposit | 8,399,003 |
| All Other Assets | 0 |
| TOTAL ASSETS | 974,020,333 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 13,394,743 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 190,260,013 |
| Regular shares | 210,722,866 |
| All Other Shares & Deposits | 466,646,267 |
| TOTAL SHARES & DEPOSITS | 867,629,146 |
| TOTAL LIABILITIES | 881,023,889 |
| Regular Reserve | 0 |
| Other Reserves | -5,787,808 |
| Undivided Earnings | 98,784,252 |
| TOTAL EQUITY | 92,996,444 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 974,020,333 |
| INCOME & EXPENSE | |
| Loan Income | 30,371,783 |
| Investment Income | 7,095,472 |
| Other Income | 8,141,304 |
| Total Employee Compensation & Benefits | 21,126,487 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 16,217,878 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,820,000 |
| Cost of Funds | 10,603,542 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,086,823 |
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» See also Statement of Financial Condition