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ABERDEEN FEDERAL CREDIT UNION

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
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
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

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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