Dec, 31, 2023 — ADDITION FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in LAKE MARY, FL with 26 branch locations and about $2.91 billion in total assets. Opened 87 years ago in 1937, ADDITION FINANCIAL CREDIT UNION has about 176,325 members and employs 567 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ADDITION FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1000 Primera Blvd LAKE MARY, FL 32746 |
| Phone: | (407) 896-9411 |
| Fax: | (407) 893-5730 |
| Website: | https://www.additionfi.com |
| Branches: | 26 branch locations |
| Members: | 176,325 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68702 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,907,486,479 |
| CEO/Manager: | Kevin S Miller |
| Chairperson: | Richard Collins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 371,818,167 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 745,254,294 |
| Unsecured Loans | 588,949,640 |
| Other Loans | 676,279,552 |
| TOTAL LOANS | 2,010,483,488 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -55,404,820 |
| Land And Building | 56,983,513 |
| Other Fixed Assets | 7,881,850 |
| NCUSIF Deposit | 22,577,861 |
| All Other Assets | 2,317,918 |
| TOTAL ASSETS | 2,907,486,479 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 320,000,000 |
| Accounts Payable & Other Liabilities | 20,489,553 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 480,628,177 |
| Regular shares | 794,856,925 |
| All Other Shares & Deposits | 1,087,216,334 |
| TOTAL SHARES & DEPOSITS | 2,362,701,435 |
| TOTAL LIABILITIES | 2,703,426,444 |
| Regular Reserve | 0 |
| Other Reserves | -30,002,690 |
| Undivided Earnings | 234,062,725 |
| TOTAL EQUITY | 204,060,035 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,907,486,479 |
| INCOME & EXPENSE | |
| Loan Income | 118,870,401 |
| Investment Income | 16,034,647 |
| Other Income | 12,435,173 |
| Total Employee Compensation & Benefits | 46,384,999 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 44,189,153 |
| Non-operating Income & (Expense) | -6,244,259 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 39,274,460 |
| Cost of Funds | 28,568,044 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,273,048 |
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