Dec, 31, 2023 — LIBRARY OF CONGRESS FEDERAL CREDIT UNION is a federal credit union headquartered in WASHINGTON, DC with 1 branch location and about $307.02 million in total assets. Opened 89 years ago in 1935, LIBRARY OF CONGRESS FEDERAL CREDIT UNION has about 10,096 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LIBRARY OF CONGRESS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 101 Independence Ave SE Rm 634 WASHINGTON, DC 20540-0002 |
| Phone: | (800) 325-2328 |
| Fax: | (202) 707-5643 |
| Website: | https://www.lcfcu.org |
| Branches: | 1 branch locations |
| Members: | 10,096 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 266 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $307,021,500 |
| CEO/Manager: | JENNIFER HURST |
| Chairperson: | ROSALYN COATES |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,269,919 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 120,167,260 |
| Unsecured Loans | 21,659,688 |
| Other Loans | 51,477,313 |
| TOTAL LOANS | 193,304,261 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,455,138 |
| Land And Building | 0 |
| Other Fixed Assets | 187,508 |
| NCUSIF Deposit | 2,143,860 |
| All Other Assets | 1,226,089 |
| TOTAL ASSETS | 307,021,500 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 742,978 |
| Notes & Interest Payable | 5,000,000 |
| Accounts Payable & Other Liabilities | 2,749,263 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 47,404,792 |
| Regular shares | 82,180,112 |
| All Other Shares & Deposits | 119,219,098 |
| TOTAL SHARES & DEPOSITS | 248,804,002 |
| TOTAL LIABILITIES | 257,296,243 |
| Regular Reserve | 0 |
| Other Reserves | 40,120 |
| Undivided Earnings | 49,685,137 |
| TOTAL EQUITY | 49,725,257 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 307,021,500 |
| INCOME & EXPENSE | |
| Loan Income | 7,976,178 |
| Investment Income | 1,972,633 |
| Other Income | 1,319,101 |
| Total Employee Compensation & Benefits | 2,796,507 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,528,925 |
| Non-operating Income & (Expense) | 249,595 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 458,005 |
| Cost of Funds | 2,887,955 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,982,513 |
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