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ABCO FEDERAL CREDIT UNION

Mar, 31, 2021 — ABCO FEDERAL CREDIT UNION is a federal credit union headquartered in RANCOCAS, NJ with 8 branch locations and about $256.04 million in total assets. Opened 63 years ago in 1958, ABCO FEDERAL CREDIT UNION has about 28,883 members and employs 71 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:28,883
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:$256,044,406
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 44,443,238
TOTAL INVESTMENTS 101,630,603
Loans Held for Sale 0
 
 Real Estate Loans 53,018,273
 Unsecured Loans 16,463,587
 Other Loans 31,102,954
 TOTAL LOANS 100,590,216
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,828,604
 Land And Building 6,045,674
 Other Fixed Assets 578,944
 NCUSIF Deposit 2,165,802
 All Other Assets 2,418,533
  TOTAL ASSETS 256,044,406
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -9,325,284
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 58,240,760
 Regular shares 125,705,583
 All Other Shares & Deposits 62,669,334
  TOTAL SHARES & DEPOSITS 246,615,677
  TOTAL LIABILITIES 237,290,393
 Regular Reserve 4,813,991
 Other Reserves -347,271
 Undivided Earnings 14,287,293
  TOTAL EQUITY 18,754,013
  TOTAL LIABILITIES, SHARES, & EQUITY 256,044,406
INCOME & EXPENSE  
 Loan Income 1,254,537
 Investment Income 305,724
 Other Income 601,225
 Total Employee Compensation & Benefits 1,214,765
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,476,027
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 130,615
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 303,009
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