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ORION FEDERAL CREDIT UNION

Dec, 31, 2023 — ORION FEDERAL CREDIT UNION is a federal credit union headquartered in MEMPHIS, TN with 11 branch locations and about $1.24 billion in total assets. Opened 67 years ago in 1957, ORION FEDERAL CREDIT UNION has about 69,112 members and employs 185 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: 284084907
Name:ORION FEDERAL CREDIT UNION
Address:
(Main Office)
400 Monroe Ave
MEMPHIS, TN 38103
Phone:(901) 385-5200
Fax:(901) 385-5200
Website:https://www.orionfcu.com
Branches:11 branch locations
Members:69,112
Credit Union Type:Federal Credit Union
Charter Number:24831
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1957
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$1,244,505,765
CEO/Manager:Daniel J Weickenand
Chairperson:Andre' Fowlkes

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 156,172,272
TOTAL INVESTMENTS 0
Loans Held for Sale 3,379,178
 
 Real Estate Loans 620,978,547
 Unsecured Loans 44,539,288
 Other Loans 343,677,438
 TOTAL LOANS 1,009,239,971
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -11,997,202
 Land And Building 33,091,440
 Other Fixed Assets 3,339,942
 NCUSIF Deposit 9,202,540
 All Other Assets 943,575
  TOTAL ASSETS 1,244,505,765
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 24,912,009
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 105,000,000
 Share Drafts 319,861,217
 Regular shares 284,371,372
 All Other Shares & Deposits 379,043,492
  TOTAL SHARES & DEPOSITS 983,276,082
  TOTAL LIABILITIES 1,113,326,136
 Regular Reserve 0
 Other Reserves 3,029,176
 Undivided Earnings 128,150,453
  TOTAL EQUITY 131,179,629
  TOTAL LIABILITIES, SHARES, & EQUITY 1,244,505,765
INCOME & EXPENSE  
 Loan Income 53,472,435
 Investment Income 4,851,004
 Other Income 5,345,421
 Total Employee Compensation & Benefits 20,930,152
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 21,953,080
 Non-operating Income & (Expense) 2,578,017
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,868,336
 Cost of Funds 12,626,006
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 6,251,475
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