Dec, 31, 2020 — ARKANSAS BEST FEDERAL CREDIT UNION is a federal credit union headquartered in FORT SMITH, AR with 1 branch location and about $139.62 million in total assets. Opened 61 years ago in 1960, ARKANSAS BEST FEDERAL CREDIT UNION has about 13,845 members and employs 32 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ARKANSAS BEST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO BOX 17020 FORT SMITH, AR 72917 |
| Phone: | (479) 649-2060 |
| Fax: | (479) 649-2070 |
| Website: | http://www.abfcu.org |
| Branches: | 1 branch locations |
| Members: | 13,845 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13737 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Oct 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $139,623,872 |
| CEO/Manager: | NORMA J MEARES |
| Chairperson: | MARK SHAVER |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,489,239 |
| TOTAL INVESTMENTS | 59,064,292 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 20,179,553 |
| Other Loans | 55,628,083 |
| TOTAL LOANS | 75,807,636 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,169,244 |
| Land And Building | 278,466 |
| Other Fixed Assets | 258,149 |
| NCUSIF Deposit | 1,160,226 |
| All Other Assets | 735,108 |
| TOTAL ASSETS | 139,623,872 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 242,497 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,163,140 |
| Regular shares | 50,279,222 |
| All Other Shares & Deposits | 54,871,785 |
| TOTAL SHARES & DEPOSITS | 119,314,147 |
| TOTAL LIABILITIES | 119,556,644 |
| Regular Reserve | 3,905,918 |
| Other Reserves | 101,053 |
| Undivided Earnings | 16,060,257 |
| TOTAL EQUITY | 20,067,228 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 139,623,872 |
| INCOME & EXPENSE | |
| Loan Income | 4,133,392 |
| Investment Income | 927,102 |
| Other Income | 1,148,065 |
| Total Employee Compensation & Benefits | 1,932,299 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,969,564 |
| Non-operating Income & (Expense) | 30 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 679,150 |
| Cost of Funds | 674,131 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 953,445 |
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