Dec, 31, 2023 — ALTAMAHA FEDERAL CREDIT UNION is a federal credit union headquartered in JESUP, GA with 3 branch locations and about $66.55 million in total assets. Opened 69 years ago in 1955, ALTAMAHA FEDERAL CREDIT UNION has about 10,395 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALTAMAHA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 407 S 1st St JESUP, GA 31545 |
| Phone: | (912) 427-8924 |
| Fax: | (912) 427-6843 |
| Website: | https://www.altamaha.org |
| Branches: | 3 branch locations |
| Members: | 10,395 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10262 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $66,545,850 |
| CEO/Manager: | Cheryl Spires |
| Chairperson: | David R Jones |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,709,537 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 533,633 |
| Unsecured Loans | 3,399,051 |
| Other Loans | 30,772,086 |
| TOTAL LOANS | 34,704,770 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -442,240 |
| Land And Building | 1,675,600 |
| Other Fixed Assets | 465,748 |
| NCUSIF Deposit | 590,864 |
| All Other Assets | 57,362 |
| TOTAL ASSETS | 66,545,850 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 709 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,590,665 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,124,802 |
| Regular shares | 31,507,740 |
| All Other Shares & Deposits | 9,071,366 |
| TOTAL SHARES & DEPOSITS | 55,703,905 |
| TOTAL LIABILITIES | 57,297,593 |
| Regular Reserve | 0 |
| Other Reserves | -116,498 |
| Undivided Earnings | 9,364,755 |
| TOTAL EQUITY | 9,248,257 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 66,545,850 |
| INCOME & EXPENSE | |
| Loan Income | 2,196,724 |
| Investment Income | 725,174 |
| Other Income | 503,159 |
| Total Employee Compensation & Benefits | 1,493,376 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,814,847 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 270,603 |
| Cost of Funds | 202,831 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 228,440 |
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