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 |
| 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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