Dec, 31, 2023 — UNIVERSITY OF SOUTH ALABAMA FEDERAL CREDIT UNION is a federal credit union headquartered in MOBILE, AL with 3 branch locations and about $57.32 million in total assets. Opened 64 years ago in 1960, UNIVERSITY OF SOUTH ALABAMA FEDERAL CREDIT UNION has about 8,700 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | UNIVERSITY OF SOUTH ALABAMA FEDERAL CREDIT UNION |
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Address: (Main Office) | 103 Hillcrest Rd MOBILE, AL 36608 |
Phone: | (251) 706-0255 |
Fax: | (251) 706-0299 |
Website: | https://www.usafedcu.com |
Branches: | 3 branch locations |
Members: | 8,700 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 13659 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1960 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $57,324,361 |
CEO/Manager: | Felicia S McKee |
Chairperson: | Polly Stokley |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,386,046 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,430,994 |
Unsecured Loans | 2,225,908 |
Other Loans | 25,428,564 |
TOTAL LOANS | 30,085,466 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -516,982 |
Land And Building | 448,907 |
Other Fixed Assets | 67,318 |
NCUSIF Deposit | 475,875 |
All Other Assets | 0 |
TOTAL ASSETS | 57,324,361 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 998,241 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,261,502 |
Regular shares | 39,476,366 |
All Other Shares & Deposits | 2,484,197 |
TOTAL SHARES & DEPOSITS | 50,222,066 |
TOTAL LIABILITIES | 51,220,307 |
Regular Reserve | 0 |
Other Reserves | 336,492 |
Undivided Earnings | 5,767,562 |
TOTAL EQUITY | 6,104,054 |
TOTAL LIABILITIES, SHARES, & EQUITY | 57,324,361 |
INCOME & EXPENSE | |
Loan Income | 1,132,857 |
Investment Income | 975,895 |
Other Income | 252,669 |
Total Employee Compensation & Benefits | 627,813 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 948,126 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 131,329 |
Cost of Funds | 487,176 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 536,249 |
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