Dec, 31, 2023 — ARKANSAS FEDERAL CREDIT UNION is a federal credit union headquartered in LITTLE ROCK, AR with 22 branch locations and about $2.42 billion in total assets. Opened 68 years ago in 1956, ARKANSAS FEDERAL CREDIT UNION has about 150,803 members and employs 410 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ARKANSAS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 17500 Cantrell LITTLE ROCK, AR 72223 |
| Phone: | (501) 982-1000 |
| Fax: | |
| Website: | https://www.afcu.org |
| Branches: | 22 branch locations |
| Members: | 150,803 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10920 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,418,938,261 |
| CEO/Manager: | Rodney Showmar |
| Chairperson: | Jon Moore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 170,503,443 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 948,658 |
| Real Estate Loans | 884,790,983 |
| Unsecured Loans | 93,077,869 |
| Other Loans | 1,078,054,832 |
| TOTAL LOANS | 2,055,923,684 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,493,229 |
| Land And Building | 56,834,589 |
| Other Fixed Assets | 8,986,328 |
| NCUSIF Deposit | 17,016,252 |
| All Other Assets | 310,094 |
| TOTAL ASSETS | 2,418,938,261 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 267,406,665 |
| Accounts Payable & Other Liabilities | 22,479,351 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 397,191,204 |
| Regular shares | 267,314,574 |
| All Other Shares & Deposits | 1,250,001,342 |
| TOTAL SHARES & DEPOSITS | 1,914,507,120 |
| TOTAL LIABILITIES | 2,205,021,946 |
| Regular Reserve | 0 |
| Other Reserves | -7,447,025 |
| Undivided Earnings | 221,363,340 |
| TOTAL EQUITY | 213,916,315 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,418,938,261 |
| INCOME & EXPENSE | |
| Loan Income | 100,507,867 |
| Investment Income | 8,105,237 |
| Other Income | 15,674,048 |
| Total Employee Compensation & Benefits | 32,898,245 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 34,327,143 |
| Non-operating Income & (Expense) | 317,690 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,121,183 |
| Cost of Funds | 44,675,061 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 19,031,624 |
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