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ABCO FEDERAL CREDIT UNION

Dec, 31, 2020 — ABCO FEDERAL CREDIT UNION is a federal credit union headquartered in RANCOCAS, NJ with 8 branch locations and about $240.28 million in total assets. Opened 63 years ago in 1958, ABCO FEDERAL CREDIT UNION has about 29,221 members and employs 73 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 231278274
Name:ABCO FEDERAL CREDIT UNION
Address:
(Main Office)
P.O. BOX 247
RANCOCAS, NJ 08073
Phone:(800) 225-1859
Fax:(609) 877-3490
Website:http://www.abcofcu.org
Branches:8 branch locations
Members:29,221
Credit Union Type:Federal Credit Union
Charter Number:12679
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1958
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$240,276,873
CEO/Manager:Jill Peterson
Chairperson:Richard Ghaul

Call Report

  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 34,487,890
TOTAL INVESTMENTS 92,192,460
Loans Held for Sale 0
 
 Real Estate Loans 53,987,753
 Unsecured Loans 18,060,029
 Other Loans 32,354,973
 TOTAL LOANS 104,415,012
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,905,407
 Land And Building 6,093,558
 Other Fixed Assets 571,290
 NCUSIF Deposit 2,165,802
 All Other Assets 2,256,268
  TOTAL ASSETS 240,276,873
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -161,264
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 47,988,297
 Regular shares 110,737,704
 All Other Shares & Deposits 62,578,399
  TOTAL SHARES & DEPOSITS 221,304,400
  TOTAL LIABILITIES 221,143,136
 Regular Reserve 4,813,991
 Other Reserves 330,955
 Undivided Earnings 13,988,791
  TOTAL EQUITY 19,133,737
  TOTAL LIABILITIES, SHARES, & EQUITY 240,276,873
INCOME & EXPENSE  
 Loan Income 5,482,680
 Investment Income 1,461,546
 Other Income 4,900,929
 Total Employee Compensation & Benefits 5,261,568
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,066,601
 Non-operating Income & (Expense) -8,646
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 59,790
 Cost of Funds 651,158
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 797,392
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