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National Credit Union Service Organization

ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION

Dec, 31, 2023 — ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in YOUNGSTOWN, OH with 4 branch locations and about $183.75 million in total assets. Opened 66 years ago in 1958, ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION has about 14,212 members and employs 32 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION
Address:
(Main Office)
1690 S Canfield Niles Rd
YOUNGSTOWN, OH 44515-4055
Phone:(330) 792-4000
Fax:(330) 792-4909
Website:https://asecu.com
Branches:4 branch locations
Members:14,212
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68587
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1958
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$183,753,769
CEO/Manager:Michael J Kurish
Chairperson:Frank Lazzeri

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,928,854
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 40,181,402
 Unsecured Loans 2,646,138
 Other Loans 79,929,063
 TOTAL LOANS 122,756,603
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -519,220
 Land And Building 959,649
 Other Fixed Assets 195,585
 NCUSIF Deposit 1,654,569
 All Other Assets 0
  TOTAL ASSETS 183,753,769
LIABILITIES & CAPITAL:  
 Dividends Payable 547,544
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 336,364
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 27,636,154
 Regular shares 80,517,043
 All Other Shares & Deposits 56,947,297
  TOTAL SHARES & DEPOSITS 165,100,496
  TOTAL LIABILITIES 165,984,404
 Regular Reserve 0
 Other Reserves 995,085
 Undivided Earnings 16,774,280
  TOTAL EQUITY 17,769,365
  TOTAL LIABILITIES, SHARES, & EQUITY 183,753,769
INCOME & EXPENSE  
 Loan Income 4,931,337
 Investment Income 627,690
 Other Income 1,198,997
 Total Employee Compensation & Benefits 2,275,879
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,395,732
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 67,000
 Cost of Funds 1,377,207
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 642,206
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