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AKRON FEDERAL CREDIT UNION

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
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
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

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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