Dec, 31, 2023 — ABCO FEDERAL CREDIT UNION is a federal credit union headquartered in WILLINGBORO, NJ with 8 branch locations and about $246.81 million in total assets. Opened 66 years ago in 1958, ABCO FEDERAL CREDIT UNION has about 27,544 members and employs 75 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 |
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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: | 27,544 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12679 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1958 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $246,806,392 |
CEO/Manager: | Jill Peterson |
Chairperson: | John C Agner |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,286,159 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 67,141,076 |
Unsecured Loans | 17,096,729 |
Other Loans | 39,083,885 |
TOTAL LOANS | 123,321,690 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,064,208 |
Land And Building | 4,945,724 |
Other Fixed Assets | 467,711 |
NCUSIF Deposit | 2,356,587 |
All Other Assets | 0 |
TOTAL ASSETS | 246,806,392 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 1,160,000 |
Accounts Payable & Other Liabilities | 210,691 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 51,829,600 |
Regular shares | 103,979,962 |
All Other Shares & Deposits | 72,430,990 |
TOTAL SHARES & DEPOSITS | 228,240,552 |
TOTAL LIABILITIES | 229,611,243 |
Regular Reserve | 0 |
Other Reserves | -307,425 |
Undivided Earnings | 17,502,574 |
TOTAL EQUITY | 17,195,149 |
TOTAL LIABILITIES, SHARES, & EQUITY | 246,806,392 |
INCOME & EXPENSE | |
Loan Income | 6,322,254 |
Investment Income | 2,416,997 |
Other Income | 2,954,121 |
Total Employee Compensation & Benefits | 5,790,295 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 6,410,437 |
Non-operating Income & (Expense) | 126,229 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 283,110 |
Cost of Funds | 1,261,916 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 906,330 |
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