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MID-ATLANTIC FEDERAL CREDIT UNION

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.


ABA Routing Number: 255077477
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

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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
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