Jun, 30, 2024 — POTOMAC FEDERAL CREDIT UNION is a federal credit union headquartered in CUMBERLAND, MD with 3 branch locations and about $34.70 million in total assets. Opened 70 years ago in 1954, POTOMAC FEDERAL CREDIT UNION has about 3,826 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | POTOMAC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 215 Paca St CUMBERLAND, MD 21502 |
| Phone: | (301) 722-5522 |
| Fax: | (301) 722-3168 |
| Website: | https://potomacfcu.org |
| Branches: | 3 branch locations |
| Members: | 3,826 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9445 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $34,704,915 |
| CEO/Manager: | Sue A McMahon |
| Chairperson: | Charles A Koelker Jr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,902,681 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 888,633 |
| Unsecured Loans | 2,912,762 |
| Other Loans | 16,141,517 |
| TOTAL LOANS | 19,942,912 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -312,772 |
| Land And Building | 604,529 |
| Other Fixed Assets | 61,015 |
| NCUSIF Deposit | 300,720 |
| All Other Assets | 0 |
| TOTAL ASSETS | 34,704,915 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 120,410 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,170,338 |
| Regular shares | 22,337,080 |
| All Other Shares & Deposits | 3,669,328 |
| TOTAL SHARES & DEPOSITS | 31,176,746 |
| TOTAL LIABILITIES | 31,297,156 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,407,759 |
| TOTAL EQUITY | 3,407,759 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 34,704,915 |
| INCOME & EXPENSE | |
| Loan Income | 779,849 |
| Investment Income | 109,404 |
| Other Income | 236,250 |
| Total Employee Compensation & Benefits | 575,364 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 613,784 |
| Non-operating Income & (Expense) | 20,867 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 325,244 |
| Cost of Funds | 40,475 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -306,342 |
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