Dec, 31, 2023 — ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) is a federally insured state chartered credit union headquartered in MONTGOMERY, AL with 9 branch locations and about $398.31 million in total assets. Opened 70 years ago in 1954, ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) has about 43,886 members and employs 112 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 STATE EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 4217 Lomac St MONTGOMERY, AL 36106 |
Phone: | (334) 420-7466 |
Fax: | |
Website: | https://www.yourasecu.com |
Branches: | 9 branch locations |
Members: | 43,886 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 64598 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $398,307,514 |
CEO/Manager: | David J Dean |
Chairperson: | Carol J Preston |
ASSETS: | $ Amount |
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Cash & Equivalents | 25,462,042 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 46,435,618 |
Unsecured Loans | 24,171,350 |
Other Loans | 195,146,223 |
TOTAL LOANS | 267,149,654 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,350,420 |
Land And Building | 8,449,275 |
Other Fixed Assets | 1,782,335 |
NCUSIF Deposit | 3,718,419 |
All Other Assets | 265,200 |
TOTAL ASSETS | 398,307,514 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 313,006 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,779,991 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 73,273,799 |
Regular shares | 125,688,637 |
All Other Shares & Deposits | 157,353,420 |
TOTAL SHARES & DEPOSITS | 356,315,856 |
TOTAL LIABILITIES | 359,408,853 |
Regular Reserve | 0 |
Other Reserves | 692,926 |
Undivided Earnings | 38,205,735 |
TOTAL EQUITY | 38,898,661 |
TOTAL LIABILITIES, SHARES, & EQUITY | 398,307,514 |
INCOME & EXPENSE | |
Loan Income | 15,996,986 |
Investment Income | 3,609,719 |
Other Income | 4,182,881 |
Total Employee Compensation & Benefits | 8,814,433 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,896,531 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,405,399 |
Cost of Funds | 3,963,289 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,943,487 |
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