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National Credit Union Service Organization

AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in ROCKVILLE CENTRE, NY with 7 branch locations and about $123.73 million in total assets. Opened 57 years ago in 1967, AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION has about 7,435 members and employs 28 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 BROADCAST EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
7 Front St
ROCKVILLE CENTRE, NY 11570
Phone:(516) 763-7505
Fax:(516) 763-7555
Website:https://www.abefcu.org
Branches:7 branch locations
Members:7,435
Credit Union Type:Federal Credit Union
Charter Number:18273
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1967
Last Audited:Dec 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$123,732,757
CEO/Manager:Jaime L Herrera
Chairperson:Michael Cullen

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 31,479,836
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 53,551,137
 Unsecured Loans 8,047,762
 Other Loans 12,194,772
 TOTAL LOANS 73,793,670
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -437,800
 Land And Building 1,841,194
 Other Fixed Assets 148,105
 NCUSIF Deposit 975,688
 All Other Assets 0
  TOTAL ASSETS 123,732,757
LIABILITIES & CAPITAL:  
 Dividends Payable 21,317
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,762,515
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 25,194,897
 Regular shares 41,570,801
 All Other Shares & Deposits 40,995,777
  TOTAL SHARES & DEPOSITS 107,761,474
  TOTAL LIABILITIES 111,545,306
 Regular Reserve 0
 Other Reserves 3,749,317
 Undivided Earnings 8,438,134
  TOTAL EQUITY 12,187,451
  TOTAL LIABILITIES, SHARES, & EQUITY 123,732,757
INCOME & EXPENSE  
 Loan Income 3,565,976
 Investment Income 2,086,009
 Other Income 675,867
 Total Employee Compensation & Benefits 2,566,255
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,841,521
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 250,000
 Cost of Funds 638,494
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,266,023
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