Dec, 31, 2023 — AMERICA'S FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in BIRMINGHAM, AL with 21 branch locations and about $2.42 billion in total assets. Opened 88 years ago in 1936, AMERICA'S FIRST FEDERAL CREDIT UNION has about 202,562 members and employs 435 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMERICA'S FIRST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1200 4th Ave N BIRMINGHAM, AL 35203-1631 |
| Phone: | (205) 320-4185 |
| Fax: | (205) 320-7042 |
| Website: | https://www.amfirst.org |
| Branches: | 21 branch locations |
| Members: | 202,562 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24534 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,418,407,920 |
| CEO/Manager: | Bill Connor |
| Chairperson: | Barney Hatten |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 233,593,223 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 522,775,256 |
| Unsecured Loans | 81,343,002 |
| Other Loans | 1,290,309,759 |
| TOTAL LOANS | 1,896,670,269 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -12,548,183 |
| Land And Building | 54,015,068 |
| Other Fixed Assets | 8,772,660 |
| NCUSIF Deposit | 20,169,101 |
| All Other Assets | 400,380 |
| TOTAL ASSETS | 2,418,407,920 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,799,220 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 32,874,914 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 333,333,586 |
| Regular shares | 920,865,209 |
| All Other Shares & Deposits | 877,496,884 |
| TOTAL SHARES & DEPOSITS | 2,131,695,679 |
| TOTAL LIABILITIES | 2,167,369,813 |
| Regular Reserve | 0 |
| Other Reserves | -8,189,642 |
| Undivided Earnings | 259,227,749 |
| TOTAL EQUITY | 251,038,107 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,418,407,920 |
| INCOME & EXPENSE | |
| Loan Income | 76,718,536 |
| Investment Income | 15,265,961 |
| Other Income | 12,088,080 |
| Total Employee Compensation & Benefits | 35,788,111 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 34,281,323 |
| Non-operating Income & (Expense) | 236,890 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,094,620 |
| Cost of Funds | 24,866,687 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 21,017,561 |
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