Dec, 31, 2023 — FERKO MD FEDERAL CREDIT UNION is a federal credit union headquartered in FREDERICK, MD with 1 branch location and about $31.49 million in total assets. Opened 69 years ago in 1955, FERKO MD FEDERAL CREDIT UNION has about 3,676 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FERKO MD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 502 W Patrick St FREDERICK, MD 21701 |
| Phone: | (301) 662-7266 |
| Fax: | (301) 662-4525 |
| Website: | https://www.ferkomfcu.com |
| Branches: | 1 branch locations |
| Members: | 3,676 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10381 |
|---|---|
| Membership Type: | Educational |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $31,493,477 |
| CEO/Manager: | Jeffrey T Perrell |
| Chairperson: | Thomas w Van Pelt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,579,224 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,947,592 |
| Other Loans | 11,549,764 |
| TOTAL LOANS | 13,497,356 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -108,366 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 326,637 |
| All Other Assets | 0 |
| TOTAL ASSETS | 31,493,477 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,259 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 423,430 |
| Regular shares | 26,481,688 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 26,905,118 |
| TOTAL LIABILITIES | 26,920,377 |
| Regular Reserve | 0 |
| Other Reserves | 223,250 |
| Undivided Earnings | 4,349,850 |
| TOTAL EQUITY | 4,573,100 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,493,477 |
| INCOME & EXPENSE | |
| Loan Income | 596,013 |
| Investment Income | 501,764 |
| Other Income | 23,688 |
| Total Employee Compensation & Benefits | 325,847 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 354,056 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 17,958 |
| Cost of Funds | 63,305 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 398,768 |
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