Dec, 31, 2023 — NORTH ALABAMA EDUCATORS CREDIT UNION is a federally insured state chartered credit union headquartered in HUNTSVILLE, AL with 4 branch locations and about $130.46 million in total assets. Opened 67 years ago in 1957, NORTH ALABAMA EDUCATORS CREDIT UNION has about 10,677 members and employs 32 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTH ALABAMA EDUCATORS CREDIT UNION |
|---|---|
| Address: (Main Office) | 2309 Whitesburg Dr SE HUNTSVILLE, AL 35801-3819 |
| Phone: | (256) 534-2423 |
| Fax: | (256) 532-0709 |
| Website: | https://www.naecu.org |
| Branches: | 4 branch locations |
| Members: | 10,677 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60500 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $130,464,501 |
| CEO/Manager: | Greg A Olmsted |
| Chairperson: | Rosemary Hodges |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,020,795 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 11,630,084 |
| Unsecured Loans | 3,392,349 |
| Other Loans | 39,858,118 |
| TOTAL LOANS | 54,880,551 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -177,011 |
| Land And Building | 593,361 |
| Other Fixed Assets | 144,775 |
| NCUSIF Deposit | 1,229,671 |
| All Other Assets | 0 |
| TOTAL ASSETS | 130,464,501 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 467 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,426,551 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,110,742 |
| Regular shares | 56,778,384 |
| All Other Shares & Deposits | 43,934,653 |
| TOTAL SHARES & DEPOSITS | 123,823,779 |
| TOTAL LIABILITIES | 125,250,797 |
| Regular Reserve | 0 |
| Other Reserves | -4,532,723 |
| Undivided Earnings | 9,746,427 |
| TOTAL EQUITY | 5,213,704 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 130,464,501 |
| INCOME & EXPENSE | |
| Loan Income | 2,443,183 |
| Investment Income | 1,264,225 |
| Other Income | 688,993 |
| Total Employee Compensation & Benefits | 1,730,172 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,826,990 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 36,850 |
| Cost of Funds | 883,707 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 455,243 |
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