Mar, 31, 2022 — FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in SPARKS, MD with 8 branch locations and about $1.27 billion in total assets. Opened 69 years ago in 1953, FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION has about 65,153 members and employs 157 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: | http://www.firstfinancial.org |
| Branches: | 8 branch locations |
| Members: | 65,153 |
| 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: | $1,271,250,504 |
| CEO/Manager: | Eric P Church |
| Chairperson: | Robert Brenneman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 102,067,752 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 433,169,472 |
| Unsecured Loans | 80,667,651 |
| Other Loans | 131,430,664 |
| TOTAL LOANS | 645,267,787 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,133,068 |
| Land And Building | 14,452,647 |
| Other Fixed Assets | 1,882,371 |
| NCUSIF Deposit | 9,769,387 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,271,250,504 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 18,662,785 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 209,115,963 |
| Regular shares | 676,255,617 |
| All Other Shares & Deposits | 166,888,654 |
| TOTAL SHARES & DEPOSITS | 1,052,260,234 |
| TOTAL LIABILITIES | 1,070,923,019 |
| Regular Reserve | 0 |
| Other Reserves | -20,905,503 |
| Undivided Earnings | 221,232,988 |
| TOTAL EQUITY | 200,327,485 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,271,250,504 |
| INCOME & EXPENSE | |
| Loan Income | 6,312,716 |
| Investment Income | 1,343,835 |
| Other Income | 535,958 |
| Total Employee Compensation & Benefits | 4,498,082 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,455,020 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 405,000 |
| Cost of Funds | 456,349 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 881,279 |
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