Dec, 31, 2020 — ABNB FEDERAL CREDIT UNION is a federal credit union headquartered in Chesapeake, VA with 18 branch locations and about $740.84 million in total assets. Opened 61 years ago in 1960, ABNB FEDERAL CREDIT UNION has about 69,195 members and employs 223 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ABNB FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 830 Greenbrier Cir Chesapeake, VA 23320-2624 |
| Phone: | (757) 523-5300 |
| Fax: | (757) 523-5744 |
| Website: | http://www.abnbfcu.org |
| Branches: | 18 branch locations |
| Members: | 69,195 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13605 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $740,843,818 |
| CEO/Manager: | Charles Mallon |
| Chairperson: | Richard M Cheliras |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 102,126,111 |
| TOTAL INVESTMENTS | 50,442,336 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 195,435,063 |
| Unsecured Loans | 61,954,049 |
| Other Loans | 265,119,780 |
| TOTAL LOANS | 527,730,443 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,738,706 |
| Land And Building | 23,983,584 |
| Other Fixed Assets | 4,586,136 |
| NCUSIF Deposit | 5,625,140 |
| All Other Assets | 33,088,774 |
| TOTAL ASSETS | 740,843,818 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 38,000,000 |
| Accounts Payable & Other Liabilities | 5,439,670 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 135,023,223 |
| Regular shares | 184,832,306 |
| All Other Shares & Deposits | 320,162,815 |
| TOTAL SHARES & DEPOSITS | 640,018,344 |
| TOTAL LIABILITIES | 683,458,014 |
| Regular Reserve | 4,318,118 |
| Other Reserves | 318,022 |
| Undivided Earnings | 52,749,664 |
| TOTAL EQUITY | 57,385,804 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 740,843,818 |
| INCOME & EXPENSE | |
| Loan Income | 28,089,334 |
| Investment Income | 630,256 |
| Other Income | 11,548,968 |
| Total Employee Compensation & Benefits | 15,155,199 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,988,650 |
| Non-operating Income & (Expense) | 299,591 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,480,000 |
| Cost of Funds | 4,912,660 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,031,640 |
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