Jun, 30, 2024 — FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in SPARKS, MD with 8 branch locations and about $1.23 billion in total assets. Opened 72 years ago in 1953, FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION has about 65,364 members and employs 159 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 72 Loveton Cir SPARKS, MD 21152-9202 |
| Phone: | (410) 321-6060 |
| Fax: | (410) 321-6352 |
| Website: | https://www.firstfinancial.org |
| Branches: | 8 branch locations |
| Members: | 65,364 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8554 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,227,743,148 |
| CEO/Manager: | Eric P Church |
| Chairperson: | Robert Brenneman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 62,316,571 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 448,504,741 |
| Unsecured Loans | 83,586,503 |
| Other Loans | 141,539,551 |
| TOTAL LOANS | 673,630,795 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,374,827 |
| Land And Building | 14,223,169 |
| Other Fixed Assets | 1,781,401 |
| NCUSIF Deposit | 9,788,314 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,227,743,148 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 13,722,647 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 207,459,524 |
| Regular shares | 669,334,492 |
| All Other Shares & Deposits | 158,030,313 |
| TOTAL SHARES & DEPOSITS | 1,034,824,329 |
| TOTAL LIABILITIES | 1,048,546,976 |
| Regular Reserve | 0 |
| Other Reserves | -44,112,428 |
| Undivided Earnings | 223,308,600 |
| TOTAL EQUITY | 179,196,172 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,227,743,148 |
| INCOME & EXPENSE | |
| Loan Income | 19,668,480 |
| Investment Income | 5,023,744 |
| Other Income | 1,599,933 |
| Total Employee Compensation & Benefits | 13,567,027 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,101,625 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,760,000 |
| Cost of Funds | 1,351,572 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,956,890 |
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