Dec, 31, 2023 — CREDIT UNION 1 is a federally insured state chartered credit union headquartered in ANCHORAGE, AK with 13 branch locations and about $1.52 billion in total assets. Opened 42 years ago in 1982, CREDIT UNION 1 has about 91,649 members and employs 396 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CREDIT UNION 1 |
|---|---|
| Address: (Main Office) | 1941 Abbott Rd ANCHORAGE, AK 99507 |
| Phone: | (907) 339-9485 |
| Fax: | (907) 339-8501 |
| Website: | https://www.cu1.org |
| Branches: | 13 branch locations |
| Members: | 91,649 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66157 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1982 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,519,582,740 |
| CEO/Manager: | Mark Burgess |
| Chairperson: | Steve Cavin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 138,624,558 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 415,920,907 |
| Unsecured Loans | 81,403,456 |
| Other Loans | 576,728,808 |
| TOTAL LOANS | 1,077,010,740 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,748,402 |
| Land And Building | 30,116,721 |
| Other Fixed Assets | 8,761,688 |
| NCUSIF Deposit | 11,050,103 |
| All Other Assets | 1,055,413 |
| TOTAL ASSETS | 1,519,582,740 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 454 |
| Notes & Interest Payable | 150,000,000 |
| Accounts Payable & Other Liabilities | 25,369,540 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 316,184,233 |
| Regular shares | 235,442,415 |
| All Other Shares & Deposits | 631,650,298 |
| TOTAL SHARES & DEPOSITS | 1,183,276,946 |
| TOTAL LIABILITIES | 1,358,646,940 |
| Regular Reserve | 0 |
| Other Reserves | -20,867,622 |
| Undivided Earnings | 181,803,422 |
| TOTAL EQUITY | 160,935,800 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,519,582,740 |
| INCOME & EXPENSE | |
| Loan Income | 56,397,924 |
| Investment Income | 10,066,387 |
| Other Income | 14,378,687 |
| Total Employee Compensation & Benefits | 35,383,746 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 28,506,041 |
| Non-operating Income & (Expense) | -10,024 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,452,052 |
| Cost of Funds | 8,954,500 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,111,788 |
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