Dec, 31, 2023 — AVADIAN CREDIT UNION is a federally insured state chartered credit union headquartered in HOOVER, AL with 19 branch locations and about $1.35 billion in total assets. Opened 90 years ago in 1934, AVADIAN CREDIT UNION has about 94,717 members and employs 270 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AVADIAN CREDIT UNION |
|---|---|
| Address: (Main Office) | 1 Riverchase Pkwy S HOOVER, AL 35244-2008 |
| Phone: | (205) 985-2828 |
| Fax: | |
| Website: | https://www.avadiancu.com |
| Branches: | 19 branch locations |
| Members: | 94,717 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68583 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,349,704,609 |
| CEO/Manager: | Linda Cencula |
| Chairperson: | Terry Davis |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 71,355,449 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 277,750 |
| Real Estate Loans | 566,991,934 |
| Unsecured Loans | 42,161,613 |
| Other Loans | 427,813,775 |
| TOTAL LOANS | 1,040,657,205 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,638,302 |
| Land And Building | 30,559,839 |
| Other Fixed Assets | 5,740,341 |
| NCUSIF Deposit | 11,200,258 |
| All Other Assets | 448,685 |
| TOTAL ASSETS | 1,349,704,609 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 537,690 |
| Notes & Interest Payable | 30,416,667 |
| Accounts Payable & Other Liabilities | 5,838,932 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 184,113,839 |
| Regular shares | 316,083,860 |
| All Other Shares & Deposits | 720,809,399 |
| TOTAL SHARES & DEPOSITS | 1,221,007,097 |
| TOTAL LIABILITIES | 1,257,800,386 |
| Regular Reserve | 0 |
| Other Reserves | -28,273,334 |
| Undivided Earnings | 120,177,557 |
| TOTAL EQUITY | 91,904,223 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,349,704,609 |
| INCOME & EXPENSE | |
| Loan Income | 51,212,035 |
| Investment Income | 7,278,329 |
| Other Income | 7,513,207 |
| Total Employee Compensation & Benefits | 24,519,412 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 21,727,494 |
| Non-operating Income & (Expense) | 1,103,899 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,332,979 |
| Cost of Funds | 21,149,396 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,261,540 |
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