Dec, 31, 2023 — BEE FEDERAL CREDIT UNION is a federal credit union headquartered in SALISBURY, MD with 1 branch location and about $8.04 million in total assets. Opened 70 years ago in 1954, BEE FEDERAL CREDIT UNION has about 963 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BEE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1414 S DIVISION ST SALISBURY, MD 21804 |
| Phone: | (410) 548-9351 |
| Fax: | (410) 548-1432 |
| Website: | https://www.beefcu.org |
| Branches: | 1 branch locations |
| Members: | 963 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9893 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,042,122 |
| CEO/Manager: | EDWIN BRUCE FORD |
| Chairperson: | RICHARD L FARLOW |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 141,949 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 975,333 |
| Other Loans | 1,867,006 |
| TOTAL LOANS | 2,842,339 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -17,585 |
| Land And Building | 140,664 |
| Other Fixed Assets | 21,560 |
| NCUSIF Deposit | 64,913 |
| All Other Assets | 0 |
| TOTAL ASSETS | 8,042,122 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 200,000 |
| Accounts Payable & Other Liabilities | 17,530 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 6,129,201 |
| All Other Shares & Deposits | 6,438 |
| TOTAL SHARES & DEPOSITS | 6,135,639 |
| TOTAL LIABILITIES | 6,353,169 |
| Regular Reserve | 0 |
| Other Reserves | 168,385 |
| Undivided Earnings | 1,520,568 |
| TOTAL EQUITY | 1,688,953 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,042,122 |
| INCOME & EXPENSE | |
| Loan Income | 179,637 |
| Investment Income | 117,750 |
| Other Income | 11,149 |
| Total Employee Compensation & Benefits | 142,737 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 92,365 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,965 |
| Cost of Funds | 43,308 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -13,250 |
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