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UNIVERSITY OF SOUTH ALABAMA FEDERAL CREDIT UNION

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.


ABA Routing Number: 265176203
Name:UNIVERSITY OF SOUTH ALABAMA FEDERAL CREDIT UNION
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
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

Call Report

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  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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