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ABNB FEDERAL CREDIT UNION

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

Call Report

  • Commercial Loans
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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