Dec, 31, 2023 — ALTAMAHA FEDERAL CREDIT UNION is a federal credit union headquartered in JESUP, GA with 3 branch locations and about $66.55 million in total assets. Opened 69 years ago in 1955, ALTAMAHA FEDERAL CREDIT UNION has about 10,395 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ALTAMAHA FEDERAL CREDIT UNION |
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Address: (Main Office) | 407 S 1st St JESUP, GA 31545 |
Phone: | (912) 427-8924 |
Fax: | (912) 427-6843 |
Website: | https://www.altamaha.org |
Branches: | 3 branch locations |
Members: | 10,395 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10262 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $66,545,850 |
CEO/Manager: | Cheryl Spires |
Chairperson: | David R Jones |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,709,537 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 533,633 |
Unsecured Loans | 3,399,051 |
Other Loans | 30,772,086 |
TOTAL LOANS | 34,704,770 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -442,240 |
Land And Building | 1,675,600 |
Other Fixed Assets | 465,748 |
NCUSIF Deposit | 590,864 |
All Other Assets | 57,362 |
TOTAL ASSETS | 66,545,850 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 709 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,590,665 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 15,124,802 |
Regular shares | 31,507,740 |
All Other Shares & Deposits | 9,071,366 |
TOTAL SHARES & DEPOSITS | 55,703,905 |
TOTAL LIABILITIES | 57,297,593 |
Regular Reserve | 0 |
Other Reserves | -116,498 |
Undivided Earnings | 9,364,755 |
TOTAL EQUITY | 9,248,257 |
TOTAL LIABILITIES, SHARES, & EQUITY | 66,545,850 |
INCOME & EXPENSE | |
Loan Income | 2,196,724 |
Investment Income | 725,174 |
Other Income | 503,159 |
Total Employee Compensation & Benefits | 1,493,376 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,814,847 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 270,603 |
Cost of Funds | 202,831 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 228,440 |
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