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FREEDOM OF MARYLAND FEDERAL CREDIT UNION

Jun, 30, 2021 — FREEDOM OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in Bel Air, MD with 6 branch locations and about $399.27 million in total assets. Opened 68 years ago in 1953, FREEDOM OF MARYLAND FEDERAL CREDIT UNION has about 32,107 members and employs 93 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: 255077299
Name:FREEDOM OF MARYLAND FEDERAL CREDIT UNION
Address:
(Main Office)
2019 Emmorton Rd
Bel Air, MD 21015
Phone:(410) 676-5700
Fax:(443) 512-8389
Website:http://www.freedomfcu.org
Branches:6 branch locations
Members:32,107
Credit Union Type:Federal Credit Union
Charter Number:8550
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1953
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$399,266,528
CEO/Manager:Michael MacPherson
Chairperson:Lisa Ermatinger

Call Report

  • Credit Builder
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 47,577,053
TOTAL INVESTMENTS 28,007,559
Loans Held for Sale 0
 
 Real Estate Loans 128,755,817
 Unsecured Loans 21,716,829
 Other Loans 163,956,842
 TOTAL LOANS 314,429,488
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,045,412
 Land And Building 3,985,849
 Other Fixed Assets 370,176
 NCUSIF Deposit 3,276,746
 All Other Assets 2,665,069
  TOTAL ASSETS 399,266,528
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,545,976
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 90,472,989
 Regular shares 147,772,843
 All Other Shares & Deposits 126,802,279
  TOTAL SHARES & DEPOSITS 365,048,111
  TOTAL LIABILITIES 367,594,087
 Regular Reserve 3,857,922
 Other Reserves 124,109
 Undivided Earnings 27,690,410
  TOTAL EQUITY 31,672,441
  TOTAL LIABILITIES, SHARES, & EQUITY 399,266,528
INCOME & EXPENSE  
 Loan Income 6,770,013
 Investment Income 135,774
 Other Income 411,418
 Total Employee Compensation & Benefits 3,277,516
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,005,289
 Non-operating Income & (Expense) 12,500
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 227,629
 Cost of Funds 879,137
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 713,914
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