Dec, 31, 2023 — SIGNAL FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in KENSINGTON, MD with 4 branch locations and about $410.36 million in total assets. Opened 77 years ago in 1947, SIGNAL FINANCIAL FEDERAL CREDIT UNION has about 24,230 members and employs 75 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SIGNAL FINANCIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3015 University Blvd W KENSINGTON, MD 20895-1936 |
| Phone: | (301) 933-9100 |
| Fax: | (301) 949-3766 |
| Website: | https://www.signalfinancialfcu.org |
| Branches: | 4 branch locations |
| Members: | 24,230 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5571 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $410,356,388 |
| CEO/Manager: | Francois R Verleysen |
| Chairperson: | Andrew Mekelburg |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,918,588 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 243,621,396 |
| Unsecured Loans | 38,094,638 |
| Other Loans | 34,036,258 |
| TOTAL LOANS | 315,752,292 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,973,247 |
| Land And Building | 2,071,765 |
| Other Fixed Assets | 5,950,272 |
| NCUSIF Deposit | 3,516,739 |
| All Other Assets | 6,042 |
| TOTAL ASSETS | 410,356,388 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 27,055,000 |
| Accounts Payable & Other Liabilities | 4,744,912 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 95,346,324 |
| Regular shares | 121,084,411 |
| All Other Shares & Deposits | 139,599,302 |
| TOTAL SHARES & DEPOSITS | 356,030,037 |
| TOTAL LIABILITIES | 388,829,949 |
| Regular Reserve | 0 |
| Other Reserves | -10,280,522 |
| Undivided Earnings | 31,806,961 |
| TOTAL EQUITY | 21,526,439 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 410,356,388 |
| INCOME & EXPENSE | |
| Loan Income | 16,021,449 |
| Investment Income | 1,501,667 |
| Other Income | 1,446,980 |
| Total Employee Compensation & Benefits | 8,678,685 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,608,017 |
| Non-operating Income & (Expense) | 157,801 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 125,000 |
| Cost of Funds | 4,918,385 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 489,052 |
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