Dec, 31, 2023 — HOWARD UNIVERSITY EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in WASHINGTON, DC with 1 branch location and about $11.10 million in total assets. Opened 89 years ago in 1935, HOWARD UNIVERSITY EMPLOYEES FEDERAL CREDIT UNION has about 1,158 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HOWARD UNIVERSITY EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2244 10th St NW WASHINGTON, DC 20001-4012 |
| Phone: | (202) 806-6128 |
| Fax: | (202) 806-4511 |
| Website: | https://www.huefcu.org |
| Branches: | 1 branch locations |
| Members: | 1,158 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 648 |
|---|---|
| Membership Type: | Educational |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $11,096,578 |
| CEO/Manager: | Michael E Hines |
| Chairperson: | Lincoln G Brown, Jr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,053,199 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,333,957 |
| Unsecured Loans | 1,194,959 |
| Other Loans | 2,738,220 |
| TOTAL LOANS | 6,267,136 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -116,090 |
| Land And Building | 0 |
| Other Fixed Assets | 832 |
| NCUSIF Deposit | 116,845 |
| All Other Assets | 0 |
| TOTAL ASSETS | 11,096,578 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,378 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 412,843 |
| Regular shares | 7,321,854 |
| All Other Shares & Deposits | 2,498,547 |
| TOTAL SHARES & DEPOSITS | 10,233,245 |
| TOTAL LIABILITIES | 10,248,623 |
| Regular Reserve | 0 |
| Other Reserves | -154,765 |
| Undivided Earnings | 1,002,720 |
| TOTAL EQUITY | 847,955 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 11,096,578 |
| INCOME & EXPENSE | |
| Loan Income | 343,075 |
| Investment Income | 218,710 |
| Other Income | 3,246 |
| Total Employee Compensation & Benefits | 274,018 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 370,240 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 110,000 |
| Cost of Funds | 41,379 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -207,911 |
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