Dec, 31, 2023 — PHILADELPHIA FEDERAL CREDIT UNION is a federal credit union headquartered in PHILADELPHIA, PA with 12 branch locations and about $1.62 billion in total assets. Opened 73 years ago in 1951, PHILADELPHIA FEDERAL CREDIT UNION has about 120,320 members and employs 288 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PHILADELPHIA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 12800 Townsend Rd PHILADELPHIA, PA 19154-1003 |
| Phone: | (215) 934-3500 |
| Fax: | |
| Website: | https://www.pfcu.com |
| Branches: | 12 branch locations |
| Members: | 120,320 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7238 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,615,199,136 |
| CEO/Manager: | Patricia Craven |
| Chairperson: | Bernard Lester |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 123,813,409 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 348,000 |
| Real Estate Loans | 656,389,191 |
| Unsecured Loans | 124,399,390 |
| Other Loans | 190,103,519 |
| TOTAL LOANS | 987,527,316 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,413,841 |
| Land And Building | 9,640,955 |
| Other Fixed Assets | 4,038,254 |
| NCUSIF Deposit | 13,522,164 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,615,199,136 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,511,254 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 336,212,431 |
| Regular shares | 360,497,344 |
| All Other Shares & Deposits | 737,602,693 |
| TOTAL SHARES & DEPOSITS | 1,434,312,470 |
| TOTAL LIABILITIES | 1,442,823,724 |
| Regular Reserve | 0 |
| Other Reserves | -47,722,442 |
| Undivided Earnings | 220,097,854 |
| TOTAL EQUITY | 172,375,412 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,615,199,136 |
| INCOME & EXPENSE | |
| Loan Income | 51,876,756 |
| Investment Income | 11,594,218 |
| Other Income | 10,768,048 |
| Total Employee Compensation & Benefits | 26,859,742 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 25,922,742 |
| Non-operating Income & (Expense) | -1,676,901 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,308,335 |
| Cost of Funds | 17,839,060 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,955,664 |
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» See also Statement of Financial Condition