Dec, 31, 2023 — ACADEMIC FEDERAL CREDIT UNION is a federal credit union headquartered in BRIARCLIFF MANOR, NY with 1 branch location and about $36.20 million in total assets. Opened 45 years ago in 1979, ACADEMIC FEDERAL CREDIT UNION has about 2,544 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ACADEMIC FEDERAL CREDIT UNION |
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Address: (Main Office) | 425 N State Rd BRIARCLIFF MANOR, NY 10510-1469 |
Phone: | (914) 923-3608 |
Fax: | (914) 923-3635 |
Website: | https://www.academicfcu.org |
Branches: | 1 branch locations |
Members: | 2,544 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 23425 |
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Membership Type: | Educational |
Corporate Credit Union: | No |
Year Opened: | 1979 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $36,204,619 |
CEO/Manager: | Jonathan S Kaufman |
Chairperson: | Raymond H Lopez |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,618,544 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,533,875 |
Unsecured Loans | 2,893,679 |
Other Loans | 2,667,469 |
TOTAL LOANS | 13,961,424 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -285,338 |
Land And Building | 994,120 |
Other Fixed Assets | 37,997 |
NCUSIF Deposit | 346,022 |
All Other Assets | 0 |
TOTAL ASSETS | 36,204,619 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 306,152 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 4,994,217 |
Regular shares | 14,189,773 |
All Other Shares & Deposits | 14,024,877 |
TOTAL SHARES & DEPOSITS | 33,208,867 |
TOTAL LIABILITIES | 33,515,019 |
Regular Reserve | 0 |
Other Reserves | 54,879 |
Undivided Earnings | 2,634,721 |
TOTAL EQUITY | 2,689,600 |
TOTAL LIABILITIES, SHARES, & EQUITY | 36,204,619 |
INCOME & EXPENSE | |
Loan Income | 813,635 |
Investment Income | 265,951 |
Other Income | 46,766 |
Total Employee Compensation & Benefits | 532,109 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 554,873 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 279,605 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -75,729 |
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