Dec, 31, 2023 — ALPENA-ALCONA AREA CREDIT UNION is a federally insured state chartered credit union headquartered in ALPENA, MI with 13 branch locations and about $775.48 million in total assets. Opened 71 years ago in 1953, ALPENA-ALCONA AREA CREDIT UNION has about 46,181 members and employs 139 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ALPENA-ALCONA AREA CREDIT UNION |
---|---|
Address: (Main Office) | 1100 S Bagley St ALPENA, MI 49707-8104 |
Phone: | (989) 356-3577 |
Fax: | (989) 354-5551 |
Website: | https://www.aaacu.com |
Branches: | 13 branch locations |
Members: | 46,181 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62035 |
---|---|
Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $775,484,744 |
CEO/Manager: | Donald J Mills |
Chairperson: | Charles Negro |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 130,892,456 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 180,916,886 |
Unsecured Loans | 66,743,074 |
Other Loans | 190,955,850 |
TOTAL LOANS | 450,847,101 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,677,143 |
Land And Building | 5,839,210 |
Other Fixed Assets | 827,558 |
NCUSIF Deposit | 6,015,750 |
All Other Assets | 130,756 |
TOTAL ASSETS | 775,484,744 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,711,030 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 4,710,267 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 102,141,306 |
Regular shares | 192,514,552 |
All Other Shares & Deposits | 386,758,464 |
TOTAL SHARES & DEPOSITS | 681,414,322 |
TOTAL LIABILITIES | 687,835,619 |
Regular Reserve | 0 |
Other Reserves | 11,399,226 |
Undivided Earnings | 76,249,899 |
TOTAL EQUITY | 87,649,125 |
TOTAL LIABILITIES, SHARES, & EQUITY | 775,484,744 |
INCOME & EXPENSE | |
Loan Income | 21,342,509 |
Investment Income | 10,995,694 |
Other Income | 2,108,781 |
Total Employee Compensation & Benefits | 9,369,066 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,365,310 |
Non-operating Income & (Expense) | -71,297 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,958,107 |
Cost of Funds | 8,762,357 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 9,863,305 |
↑ Back to Top |