Dec, 31, 2023 — AMERICO FEDERAL CREDIT UNION is a federal credit union headquartered in ERIE, PA with 2 branch locations and about $88.42 million in total assets. Opened 65 years ago in 1959, AMERICO FEDERAL CREDIT UNION has about 7,859 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMERICO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4101 Main St ERIE, PA 16511 |
| Phone: | (814) 899-6608 |
| Fax: | (814) 899-6005 |
| Website: | https://www.americofcu.com |
| Branches: | 2 branch locations |
| Members: | 7,859 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12752 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Oct 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $88,420,318 |
| CEO/Manager: | Christine Bennett |
| Chairperson: | Linda Best |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,214,700 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 8,283,519 |
| Unsecured Loans | 2,695,662 |
| Other Loans | 19,852,814 |
| TOTAL LOANS | 30,831,995 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -192,771 |
| Land And Building | 334,144 |
| Other Fixed Assets | 27,938 |
| NCUSIF Deposit | 814,038 |
| All Other Assets | 0 |
| TOTAL ASSETS | 88,420,318 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 415,319 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 16,712,230 |
| Regular shares | 32,722,562 |
| All Other Shares & Deposits | 28,965,745 |
| TOTAL SHARES & DEPOSITS | 78,400,537 |
| TOTAL LIABILITIES | 78,815,856 |
| Regular Reserve | 0 |
| Other Reserves | 433,725 |
| Undivided Earnings | 9,170,737 |
| TOTAL EQUITY | 9,604,462 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 88,420,318 |
| INCOME & EXPENSE | |
| Loan Income | 1,711,888 |
| Investment Income | 589,865 |
| Other Income | 194,540 |
| Total Employee Compensation & Benefits | 1,030,358 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,754,912 |
| Non-operating Income & (Expense) | 28,121 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 37,867 |
| Cost of Funds | 338,702 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 37,569 |
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