Jun, 30, 2024 — ABCO FEDERAL CREDIT UNION is a federal credit union headquartered in WILLINGBORO, NJ with 8 branch locations and about $260.33 million in total assets. Opened 66 years ago in 1958, ABCO FEDERAL CREDIT UNION has about 27,915 members and employs 74 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ABCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 621 Beverly Rancocas Rd Ste 1H WILLINGBORO, NJ 08046-3727 |
| Phone: | (800) 225-1859 |
| Fax: | (609) 877-3490 |
| Website: | https://www.abcofcu.org |
| Branches: | 8 branch locations |
| Members: | 27,915 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $260,326,895 |
| CEO/Manager: | Jill Peterson |
| Chairperson: | John C Agner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 19,576,121 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 56,784,096 |
| Unsecured Loans | 16,340,999 |
| Other Loans | 34,940,346 |
| TOTAL LOANS | 108,065,441 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,488,763 |
| Land And Building | 5,658,107 |
| Other Fixed Assets | 352,661 |
| NCUSIF Deposit | 2,345,556 |
| All Other Assets | 500,000 |
| TOTAL ASSETS | 260,326,895 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 766,832 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 54,904,150 |
| Regular shares | 118,921,673 |
| All Other Shares & Deposits | 71,587,378 |
| TOTAL SHARES & DEPOSITS | 245,413,201 |
| TOTAL LIABILITIES | 246,180,037 |
| Regular Reserve | 0 |
| Other Reserves | -1,843,975 |
| Undivided Earnings | 15,990,833 |
| TOTAL EQUITY | 14,146,858 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 260,326,895 |
| INCOME & EXPENSE | |
| Loan Income | 3,690,864 |
| Investment Income | 1,428,274 |
| Other Income | 2,242,413 |
| Total Employee Compensation & Benefits | 4,070,608 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,489,650 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 18,956 |
| Cost of Funds | 389,774 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 783,112 |
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