Dec, 31, 2023 — ALATRUST CREDIT UNION is a federally insured state chartered credit union headquartered in HOOVER, AL with 6 branch locations and about $199.34 million in total assets. Opened 89 years ago in 1935, ALATRUST CREDIT UNION has about 12,937 members and employs 40 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALATRUST CREDIT UNION |
|---|---|
| Address: (Main Office) | 1810 Merchants Dr HOOVER, AL 35244-1005 |
| Phone: | (205) 581-8800 |
| Fax: | (205) 581-8816 |
| Website: | https://www.alatrustcu.com |
| Branches: | 6 branch locations |
| Members: | 12,937 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60934 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $199,335,118 |
| CEO/Manager: | Steve Nix |
| Chairperson: | Bascom Woodward |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,337,029 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 42,549,722 |
| Unsecured Loans | 9,642,819 |
| Other Loans | 59,244,280 |
| TOTAL LOANS | 111,436,821 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,162,714 |
| Land And Building | 4,352,767 |
| Other Fixed Assets | 233,631 |
| NCUSIF Deposit | 1,607,536 |
| All Other Assets | 0 |
| TOTAL ASSETS | 199,335,118 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | 1,410,119 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 29,316,111 |
| Regular shares | 84,578,525 |
| All Other Shares & Deposits | 57,804,041 |
| TOTAL SHARES & DEPOSITS | 171,698,675 |
| TOTAL LIABILITIES | 183,108,794 |
| Regular Reserve | 0 |
| Other Reserves | -10,043,946 |
| Undivided Earnings | 26,270,270 |
| TOTAL EQUITY | 16,226,324 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 199,335,118 |
| INCOME & EXPENSE | |
| Loan Income | 6,262,631 |
| Investment Income | 1,714,027 |
| Other Income | 1,129,721 |
| Total Employee Compensation & Benefits | 2,650,553 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,176,900 |
| Non-operating Income & (Expense) | 18,169 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 405,000 |
| Cost of Funds | 1,800,678 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,904,764 |
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