Dec, 31, 2023 — ABERDEEN FEDERAL CREDIT UNION is a federal credit union headquartered in ABERDEEN, SD with 1 branch location and about $172.63 million in total assets. Opened 89 years ago in 1935, ABERDEEN FEDERAL CREDIT UNION has about 11,599 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ABERDEEN FEDERAL CREDIT UNION |
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Address: (Main Office) | 2324 8TH AVE NE ABERDEEN, SD 57401 |
Phone: | (605) 225-2488 |
Fax: | (605) 225-5737 |
Website: | https://www.areafcu.org |
Branches: | 1 branch locations |
Members: | 11,599 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 274 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $172,631,937 |
CEO/Manager: | Steve Streier |
Chairperson: | Douglas Thompson |
ASSETS: | $ Amount |
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Cash & Equivalents | 23,501,235 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 659,861 |
Real Estate Loans | 17,383,784 |
Unsecured Loans | 1,197,164 |
Other Loans | 95,485,742 |
TOTAL LOANS | 114,638,183 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -271,002 |
Land And Building | 2,651,991 |
Other Fixed Assets | 155,656 |
NCUSIF Deposit | 1,344,166 |
All Other Assets | 0 |
TOTAL ASSETS | 172,631,937 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 161,773 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,642,266 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 37,429,742 |
Regular shares | 64,206,211 |
All Other Shares & Deposits | 42,328,354 |
TOTAL SHARES & DEPOSITS | 143,964,307 |
TOTAL LIABILITIES | 145,768,346 |
Regular Reserve | 0 |
Other Reserves | -1,227,898 |
Undivided Earnings | 28,091,489 |
TOTAL EQUITY | 26,863,591 |
TOTAL LIABILITIES, SHARES, & EQUITY | 172,631,937 |
INCOME & EXPENSE | |
Loan Income | 5,146,634 |
Investment Income | 2,234,019 |
Other Income | 1,067,714 |
Total Employee Compensation & Benefits | 2,475,553 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,045,019 |
Non-operating Income & (Expense) | -61,222 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 201,105 |
Cost of Funds | 1,159,717 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,655,776 |
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