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AZALEA CITY CREDIT UNION

Dec, 31, 2023 — AZALEA CITY CREDIT UNION is a federally insured state chartered credit union headquartered in MOBILE, AL with 5 branch locations and about $42.48 million in total assets. Opened 70 years ago in 1954, AZALEA CITY CREDIT UNION has about 4,983 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:AZALEA CITY CREDIT UNION
Address:
(Main Office)
5662 Cottage Hill Rd
MOBILE, AL 36609
Phone:(251) 316-0000
Fax:(251) 316-0003
Website:https://www.azaleacitycu.com
Branches:5 branch locations
Members:4,983
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68224
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$42,479,704
CEO/Manager:Olabode Anise
Chairperson:JERRY BYRD

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,445,876
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,848,944
 Unsecured Loans 2,303,700
 Other Loans 21,026,198
 TOTAL LOANS 27,178,842
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -556,828
 Land And Building 2,479,226
 Other Fixed Assets 24,443
 NCUSIF Deposit 363,943
 All Other Assets 224,873
  TOTAL ASSETS 42,479,704
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 418,299
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,298,317
 Regular shares 19,438,458
 All Other Shares & Deposits 10,963,219
  TOTAL SHARES & DEPOSITS 35,699,994
  TOTAL LIABILITIES 36,118,293
 Regular Reserve 0
 Other Reserves 907,153
 Undivided Earnings 5,454,258
  TOTAL EQUITY 6,361,411
  TOTAL LIABILITIES, SHARES, & EQUITY 42,479,704
INCOME & EXPENSE  
 Loan Income 1,662,510
 Investment Income 225,137
 Other Income 408,900
 Total Employee Compensation & Benefits 987,383
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 988,140
 Non-operating Income & (Expense) 170,163
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 19,476
 Cost of Funds 320,280
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 517,691
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