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AMERICAN SPIRIT FEDERAL CREDIT UNION

Dec, 31, 2023 — AMERICAN SPIRIT FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, DE with 3 branch locations and about $76.77 million in total assets. Opened 61 years ago in 1963, AMERICAN SPIRIT FEDERAL CREDIT UNION has about 12,098 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.


ABA Routing Number: 231176787
Name:AMERICAN SPIRIT FEDERAL CREDIT UNION
Address:
(Main Office)
1110 Elkton Rd
NEWARK, DE 19711
Phone:(302) 738-4515
Fax:(302) 738-4562
Website:https://www.americanspirit.org
Branches:3 branch locations
Members:12,098
Credit Union Type:Federal Credit Union
Charter Number:15426
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1963
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$76,766,993
CEO/Manager:Maurice Dawkins
Chairperson:Melvin Phillips

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,432,021
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 18,986,156
 Unsecured Loans 4,246,207
 Other Loans 9,065,556
 TOTAL LOANS 32,297,919
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -758,710
 Land And Building 1,669,615
 Other Fixed Assets 9,538
 NCUSIF Deposit 634,925
 All Other Assets 0
  TOTAL ASSETS 76,766,993
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 8,000,000
 Accounts Payable & Other Liabilities 559,640
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 14,111,425
 Regular shares 30,276,838
 All Other Shares & Deposits 17,961,907
  TOTAL SHARES & DEPOSITS 62,350,170
  TOTAL LIABILITIES 70,909,810
 Regular Reserve 0
 Other Reserves -5,724,720
 Undivided Earnings 11,581,903
  TOTAL EQUITY 5,857,183
  TOTAL LIABILITIES, SHARES, & EQUITY 76,766,993
INCOME & EXPENSE  
 Loan Income 2,113,871
 Investment Income 894,352
 Other Income 454,089
 Total Employee Compensation & Benefits 680,584
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,814,158
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 578,839
 Cost of Funds 711,687
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 36,249
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