Dec, 31, 2023 — MID-ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in GERMANTOWN, MD with 4 branch locations and about $404.85 million in total assets. Opened 56 years ago in 1968, MID-ATLANTIC FEDERAL CREDIT UNION has about 19,286 members and employs 63 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MID-ATLANTIC FEDERAL CREDIT UNION |
---|---|
Address: (Main Office) | 12820 Wisteria Dr GERMANTOWN, MD 20874-2627 |
Phone: | (301) 944-1800 |
Fax: | (301) 944-1801 |
Website: | https://www.mafcu.org |
Branches: | 4 branch locations |
Members: | 19,286 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 18716 |
---|---|
Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1968 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $404,849,975 |
CEO/Manager: | William A Brooks, Sr. |
Chairperson: | Randy Scritchfield |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 48,317,145 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 279,309,542 |
Unsecured Loans | 14,944,163 |
Other Loans | 25,134,907 |
TOTAL LOANS | 319,388,612 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,207,628 |
Land And Building | 3,548,856 |
Other Fixed Assets | 1,729,540 |
NCUSIF Deposit | 3,314,279 |
All Other Assets | 0 |
TOTAL ASSETS | 404,849,975 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 753,958 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 3,689,984 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 110,363,159 |
Regular shares | 118,824,809 |
All Other Shares & Deposits | 133,592,444 |
TOTAL SHARES & DEPOSITS | 362,780,412 |
TOTAL LIABILITIES | 367,224,354 |
Regular Reserve | 0 |
Other Reserves | -200,312 |
Undivided Earnings | 37,825,933 |
TOTAL EQUITY | 37,625,621 |
TOTAL LIABILITIES, SHARES, & EQUITY | 404,849,975 |
INCOME & EXPENSE | |
Loan Income | 14,994,526 |
Investment Income | 2,851,993 |
Other Income | 1,125,352 |
Total Employee Compensation & Benefits | 6,025,448 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,991,773 |
Non-operating Income & (Expense) | 178,002 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -228,741 |
Cost of Funds | 3,421,941 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 5,815,932 |
↑ Back to Top |