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FEDFINANCIAL FEDERAL CREDIT UNION

Dec, 31, 2023 — FEDFINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in SILVER SPRING, MD with 1 branch location and about $82.03 million in total assets. Opened 89 years ago in 1935, FEDFINANCIAL FEDERAL CREDIT UNION has about 4,020 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FEDFINANCIAL FEDERAL CREDIT UNION
Address:
(Main Office)
10903 New Hampshire Ave Bldg 2
SILVER SPRING, MD 20903-1058
Phone:(301) 881-5626
Fax:(301) 770-5490
Website:https://www.fedfinancial.org
Branches:1 branch locations
Members:4,020
Credit Union Type:Federal Credit Union
Charter Number:216
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1935
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$82,029,375
CEO/Manager:Jonathan A Rhodes
Chairperson:Christopher M Cole

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,650,145
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 12,158,258
 Unsecured Loans 4,408,261
 Other Loans 5,293,083
 TOTAL LOANS 21,859,602
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -60,696
 Land And Building 0
 Other Fixed Assets 131,826
 NCUSIF Deposit 704,716
 All Other Assets 0
  TOTAL ASSETS 82,029,375
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 580,673
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 26,822,926
 Regular shares 31,576,193
 All Other Shares & Deposits 16,661,872
  TOTAL SHARES & DEPOSITS 75,060,991
  TOTAL LIABILITIES 75,641,664
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 6,387,711
  TOTAL EQUITY 6,387,711
  TOTAL LIABILITIES, SHARES, & EQUITY 82,029,375
INCOME & EXPENSE  
 Loan Income 1,126,060
 Investment Income 1,447,762
 Other Income 221,554
 Total Employee Compensation & Benefits 1,513,539
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,149,841
 Non-operating Income & (Expense) 278,025
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -51,056
 Cost of Funds 518,077
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 14,846
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