Dec, 31, 2022 — AMERICAN SPIRIT FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, DE with 3 branch locations and about $78.44 million in total assets. Opened 60 years ago in 1963, AMERICAN SPIRIT FEDERAL CREDIT UNION has about 13,238 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMERICAN SPIRIT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1110 Elkton Rd NEWARK, DE 19711 |
| Phone: | (302) 738-4515 |
| Fax: | (302) 738-4562 |
| Website: | https://www.americanspirit.org |
| Branches: | 3 branch locations |
| Members: | 13,238 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15426 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $78,442,051 |
| CEO/Manager: | Maurice Dawkins |
| Chairperson: | Melvin Phillips |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,803,663 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 20,513,555 |
| Unsecured Loans | 3,548,073 |
| Other Loans | 4,515,005 |
| TOTAL LOANS | 33,523,669 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -605,727 |
| Land And Building | 1,744,336 |
| Other Fixed Assets | 15,234 |
| NCUSIF Deposit | 710,574 |
| All Other Assets | 0 |
| TOTAL ASSETS | 78,442,051 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 3,058,301 |
| Accounts Payable & Other Liabilities | 71,055 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,881,950 |
| Regular shares | 32,752,006 |
| All Other Shares & Deposits | 22,065,998 |
| TOTAL SHARES & DEPOSITS | 70,699,954 |
| TOTAL LIABILITIES | 73,829,310 |
| Regular Reserve | 0 |
| Other Reserves | -7,035,399 |
| Undivided Earnings | 11,648,140 |
| TOTAL EQUITY | 4,612,741 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 78,442,051 |
| INCOME & EXPENSE | |
| Loan Income | 1,330,483 |
| Investment Income | 483,042 |
| Other Income | 313,272 |
| Total Employee Compensation & Benefits | 513,109 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,539,872 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 187,781 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 612,304 |
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