Dec, 31, 2023 — DIRECT FEDERAL CREDIT UNION is a federal credit union headquartered in NEEDHAM, MA with 1 branch location and about $835.83 million in total assets. Opened 71 years ago in 1953, DIRECT FEDERAL CREDIT UNION has about 26,008 members and employs 77 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | DIRECT FEDERAL CREDIT UNION |
---|---|
Address: (Main Office) | 50 Cabot St NEEDHAM, MA 02494 |
Phone: | (781) 433-2900 |
Fax: | (781) 455-9911 |
Website: | https://www.direct.com |
Branches: | 1 branch locations |
Members: | 26,008 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9071 |
---|---|
Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $835,830,609 |
CEO/Manager: | Joseph A Walsh |
Chairperson: | Joseph Capalbo, Jr. |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 41,585,826 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 469,000 |
Real Estate Loans | 586,011,765 |
Unsecured Loans | 23,076,183 |
Other Loans | 118,627,215 |
TOTAL LOANS | 727,715,163 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,816,461 |
Land And Building | 0 |
Other Fixed Assets | 1,534,002 |
NCUSIF Deposit | 5,976,809 |
All Other Assets | 318,625 |
TOTAL ASSETS | 835,830,609 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 119,188,000 |
Accounts Payable & Other Liabilities | 11,135,214 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 76,245,905 |
Regular shares | 88,696,853 |
All Other Shares & Deposits | 449,625,062 |
TOTAL SHARES & DEPOSITS | 614,567,820 |
TOTAL LIABILITIES | 744,891,034 |
Regular Reserve | 0 |
Other Reserves | 5,988,916 |
Undivided Earnings | 84,950,659 |
TOTAL EQUITY | 90,939,575 |
TOTAL LIABILITIES, SHARES, & EQUITY | 835,830,609 |
INCOME & EXPENSE | |
Loan Income | 32,932,404 |
Investment Income | 2,236,444 |
Other Income | 477,013 |
Total Employee Compensation & Benefits | 12,312,793 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,851,011 |
Non-operating Income & (Expense) | 548,579 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 145,477 |
Cost of Funds | 16,860,740 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 268,252 |
↑ Back to Top |