Dec, 31, 2023 — ALABAMA CREDIT UNION is a federally insured state chartered credit union headquartered in TUSCALOOSA, AL with 38 branch locations and about $1.92 billion in total assets. Opened 68 years ago in 1956, ALABAMA CREDIT UNION has about 156,062 members and employs 382 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ALABAMA CREDIT UNION |
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Address: (Main Office) | 909 Anna Ave TUSCALOOSA, AL 35401 |
Phone: | (888) 817-2002 |
Fax: | (205) 650-1020 |
Website: | https://www.alabamacu.com |
Branches: | 38 branch locations |
Members: | 156,062 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60823 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1956 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,921,611,376 |
CEO/Manager: | Stephen K Swofford |
Chairperson: | Ron Dulek |
ASSETS: | $ Amount |
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Cash & Equivalents | 116,600,537 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 682,746,755 |
Unsecured Loans | 94,446,877 |
Other Loans | 695,383,222 |
TOTAL LOANS | 1,474,123,422 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,529,915 |
Land And Building | 51,897,717 |
Other Fixed Assets | 3,297,560 |
NCUSIF Deposit | 13,444,465 |
All Other Assets | 4,806,184 |
TOTAL ASSETS | 1,921,611,376 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 835,705 |
Notes & Interest Payable | 245,000,000 |
Accounts Payable & Other Liabilities | 13,374,372 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 48,500,000 |
Share Drafts | 255,750,322 |
Regular shares | 447,412,360 |
All Other Shares & Deposits | 799,494,978 |
TOTAL SHARES & DEPOSITS | 1,502,657,660 |
TOTAL LIABILITIES | 1,810,367,737 |
Regular Reserve | 0 |
Other Reserves | -11,429,127 |
Undivided Earnings | 122,672,766 |
TOTAL EQUITY | 111,243,639 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,921,611,376 |
INCOME & EXPENSE | |
Loan Income | 74,325,246 |
Investment Income | 7,447,381 |
Other Income | 22,899,464 |
Total Employee Compensation & Benefits | 26,073,514 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 33,028,171 |
Non-operating Income & (Expense) | 1,363,603 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,971,110 |
Cost of Funds | 35,555,915 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 5,406,984 |
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