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ALABAMA CREDIT UNION

Dec, 31, 2023 — ALABAMA CREDIT UNION is a federally insured state chartered credit union headquartered in TUSCALOOSA, AL with 38 branch locations and about $1.92 billion in total assets. Opened 68 years ago in 1956, ALABAMA CREDIT UNION has about 156,062 members and employs 382 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: 262277419
Name:ALABAMA CREDIT UNION
Address:
(Main Office)
909 Anna Ave
TUSCALOOSA, AL 35401
Phone:(888) 817-2002
Fax:(205) 650-1020
Website:https://www.alabamacu.com
Branches:38 branch locations
Members:156,062
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60823
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1956
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$1,921,611,376
CEO/Manager:Stephen K Swofford
Chairperson:Ron Dulek

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 116,600,537
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 682,746,755
 Unsecured Loans 94,446,877
 Other Loans 695,383,222
 TOTAL LOANS 1,474,123,422
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -8,529,915
 Land And Building 51,897,717
 Other Fixed Assets 3,297,560
 NCUSIF Deposit 13,444,465
 All Other Assets 4,806,184
  TOTAL ASSETS 1,921,611,376
LIABILITIES & CAPITAL:  
 Dividends Payable 835,705
 Notes & Interest Payable 245,000,000
 Accounts Payable & Other Liabilities 13,374,372
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 48,500,000
 Share Drafts 255,750,322
 Regular shares 447,412,360
 All Other Shares & Deposits 799,494,978
  TOTAL SHARES & DEPOSITS 1,502,657,660
  TOTAL LIABILITIES 1,810,367,737
 Regular Reserve 0
 Other Reserves -11,429,127
 Undivided Earnings 122,672,766
  TOTAL EQUITY 111,243,639
  TOTAL LIABILITIES, SHARES, & EQUITY 1,921,611,376
INCOME & EXPENSE  
 Loan Income 74,325,246
 Investment Income 7,447,381
 Other Income 22,899,464
 Total Employee Compensation & Benefits 26,073,514
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 33,028,171
 Non-operating Income & (Expense) 1,363,603
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,971,110
 Cost of Funds 35,555,915
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 5,406,984
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