Dec, 31, 2020 — AKRON FEDERAL CREDIT UNION is a federal credit union headquartered in Akron, CO with 1 branch location and about $752,811 in total assets. Opened 66 years ago in 1955, AKRON FEDERAL CREDIT UNION has about 296 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | AKRON FEDERAL CREDIT UNION |
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Address: (Main Office) | PO Box 456 Akron, CO 80720 |
Phone: | (970) 345-2623 |
Fax: | (970) 345-2623 |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 296 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10253 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Dec 01, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $752,811 |
CEO/Manager: | Clo Arnold |
Chairperson: | James Thompson |
ASSETS: | $ Amount |
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Cash & Equivalents | 216,558 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 703 |
Other Loans | 533,953 |
TOTAL LOANS | 534,656 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,712 |
Land And Building | 0 |
Other Fixed Assets | 13 |
NCUSIF Deposit | 6,050 |
All Other Assets | 1,246 |
TOTAL ASSETS | 752,811 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 668 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 943 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 672,872 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 672,872 |
TOTAL LIABILITIES | 674,483 |
Regular Reserve | 30,163 |
Other Reserves | 0 |
Undivided Earnings | 48,165 |
TOTAL EQUITY | 78,328 |
TOTAL LIABILITIES, SHARES, & EQUITY | 752,811 |
INCOME & EXPENSE | |
Loan Income | 29,567 |
Investment Income | 117 |
Other Income | 2,507 |
Total Employee Compensation & Benefits | 19,421 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 10,225 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,260 |
Cost of Funds | 1,276 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -5,991 |
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