Dec, 31, 2023 — APL FEDERAL CREDIT UNION is a federal credit union headquartered in LAUREL, MD with 3 branch locations and about $626.03 million in total assets. Opened 70 years ago in 1954, APL FEDERAL CREDIT UNION has about 30,009 members and employs 57 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | APL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 11050 Johns Hopkins Rd LAUREL, MD 20723 |
| Phone: | (240) 228-5250 |
| Fax: | (240) 228-5771 |
| Website: | https://www.aplfcu.org |
| Branches: | 3 branch locations |
| Members: | 30,009 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9475 |
|---|---|
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $626,032,028 |
| CEO/Manager: | David M Woodruff |
| Chairperson: | Alice Mault |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,312,638 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 202,753,093 |
| Unsecured Loans | 11,703,922 |
| Other Loans | 234,606,691 |
| TOTAL LOANS | 449,063,706 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -917,199 |
| Land And Building | 7,872,654 |
| Other Fixed Assets | 1,900,170 |
| NCUSIF Deposit | 5,114,104 |
| All Other Assets | 0 |
| TOTAL ASSETS | 626,032,028 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 5,296,875 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 120,153,031 |
| Regular shares | 230,116,433 |
| All Other Shares & Deposits | 196,521,196 |
| TOTAL SHARES & DEPOSITS | 546,790,659 |
| TOTAL LIABILITIES | 572,090,128 |
| Regular Reserve | 0 |
| Other Reserves | -12,784,499 |
| Undivided Earnings | 66,726,399 |
| TOTAL EQUITY | 53,941,900 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 626,032,028 |
| INCOME & EXPENSE | |
| Loan Income | 16,784,276 |
| Investment Income | 2,063,000 |
| Other Income | 553,204 |
| Total Employee Compensation & Benefits | 7,792,825 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,648,114 |
| Non-operating Income & (Expense) | -86,864 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 325,024 |
| Cost of Funds | 5,669,389 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,655,084 |
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