Sep, 30, 2025 — GENFED FINANCIAL CREDIT UNION is a non-federally insured state credit union headquartered in AKRON, OH with 9 branch locations and about $307.26 million in total assets. Opened 89 years ago in 1937, GENFED FINANCIAL CREDIT UNION has about 24,810 members and employs 88 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GENFED FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2492 Wedgewood Dr Ste G AKRON, OH 44312 |
| Phone: | (330) 734-0225 |
| Fax: | (330) 733-0042 |
| Website: | https://www.genfed.com |
| Branches: | 9 branch locations |
| Members: | 24,810 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 97106 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $307,263,100 |
| CEO/Manager: | Michael W Doran |
| Chairperson: | Joyce R Jones |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 54,770,994 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 107,208,690 |
| Unsecured Loans | 11,315,258 |
| Other Loans | 86,563,303 |
| TOTAL LOANS | 205,394,123 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,179,614 |
| Land And Building | 4,261,733 |
| Other Fixed Assets | 1,346,085 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 307,263,100 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,067,029 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 67,886,931 |
| Regular shares | 104,591,609 |
| All Other Shares & Deposits | 80,507,240 |
| TOTAL SHARES & DEPOSITS | 252,985,780 |
| TOTAL LIABILITIES | 256,052,809 |
| Regular Reserve | 0 |
| Other Reserves | 8,243,214 |
| Undivided Earnings | 42,967,077 |
| TOTAL EQUITY | 51,210,291 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 307,263,100 |
| INCOME & EXPENSE | |
| Loan Income | 9,799,278 |
| Investment Income | 2,021,450 |
| Other Income | 2,381,006 |
| Total Employee Compensation & Benefits | 5,039,929 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 6,017,118 |
| Non-operating Income & (Expense) | 25,195 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 573,427 |
| Cost of Funds | 1,256,333 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,054,616 |
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