Dec, 31, 2023 — AMERICAN 1 CREDIT UNION is a federally insured state chartered credit union headquartered in JACKSON, MI with 18 branch locations and about $683.63 million in total assets. Opened 44 years ago in 1980, AMERICAN 1 CREDIT UNION has about 64,464 members and employs 260 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | AMERICAN 1 CREDIT UNION |
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Address: (Main Office) | 718 E Michigan Ave JACKSON, MI 49201 |
Phone: | (517) 787-6510 |
Fax: | |
Website: | https://www.american1cu.org |
Branches: | 18 branch locations |
Members: | 64,464 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 65595 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1980 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $683,625,419 |
CEO/Manager: | Martha Fuerstenau |
Chairperson: | Philip Hoffman |
ASSETS: | $ Amount |
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Cash & Equivalents | 199,817,850 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,843,809 |
Unsecured Loans | 120,546,640 |
Other Loans | 318,907,831 |
TOTAL LOANS | 447,298,280 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,488,248 |
Land And Building | 13,591,593 |
Other Fixed Assets | 1,814,820 |
NCUSIF Deposit | 4,689,979 |
All Other Assets | 264,100 |
TOTAL ASSETS | 683,625,419 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 557,089 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 19,907,565 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 109,522,307 |
Regular shares | 177,776,653 |
All Other Shares & Deposits | 283,550,020 |
TOTAL SHARES & DEPOSITS | 570,848,981 |
TOTAL LIABILITIES | 591,313,635 |
Regular Reserve | 0 |
Other Reserves | 7,110,591 |
Undivided Earnings | 85,201,193 |
TOTAL EQUITY | 92,311,784 |
TOTAL LIABILITIES, SHARES, & EQUITY | 683,625,419 |
INCOME & EXPENSE | |
Loan Income | 29,785,074 |
Investment Income | 7,394,847 |
Other Income | 6,422,912 |
Total Employee Compensation & Benefits | 19,616,114 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 12,795,071 |
Non-operating Income & (Expense) | 512,683 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,876,558 |
Cost of Funds | 7,069,084 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 8,900,670 |
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