Dec, 31, 2023 — ACADEMIC FEDERAL CREDIT UNION is a federal credit union headquartered in BRIARCLIFF MANOR, NY with 1 branch location and about $36.20 million in total assets. Opened 45 years ago in 1979, ACADEMIC FEDERAL CREDIT UNION has about 2,544 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ACADEMIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 425 N State Rd BRIARCLIFF MANOR, NY 10510-1469 |
| Phone: | (914) 923-3608 |
| Fax: | (914) 923-3635 |
| Website: | https://www.academicfcu.org |
| Branches: | 1 branch locations |
| Members: | 2,544 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23425 |
|---|---|
| Membership Type: | Educational |
| Corporate Credit Union: | No |
| Year Opened: | 1979 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $36,204,619 |
| CEO/Manager: | Jonathan S Kaufman |
| Chairperson: | Raymond H Lopez |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,618,544 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,533,875 |
| Unsecured Loans | 2,893,679 |
| Other Loans | 2,667,469 |
| TOTAL LOANS | 13,961,424 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -285,338 |
| Land And Building | 994,120 |
| Other Fixed Assets | 37,997 |
| NCUSIF Deposit | 346,022 |
| All Other Assets | 0 |
| TOTAL ASSETS | 36,204,619 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 306,152 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,994,217 |
| Regular shares | 14,189,773 |
| All Other Shares & Deposits | 14,024,877 |
| TOTAL SHARES & DEPOSITS | 33,208,867 |
| TOTAL LIABILITIES | 33,515,019 |
| Regular Reserve | 0 |
| Other Reserves | 54,879 |
| Undivided Earnings | 2,634,721 |
| TOTAL EQUITY | 2,689,600 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 36,204,619 |
| INCOME & EXPENSE | |
| Loan Income | 813,635 |
| Investment Income | 265,951 |
| Other Income | 46,766 |
| Total Employee Compensation & Benefits | 532,109 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 554,873 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 279,605 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -75,729 |
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