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AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Rockville Centr, NY with 7 branch locations and about $127.59 million in total assets. Opened 54 years ago in 1967, AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION has about 8,149 members and employs 28 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 BROADCAST EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
7 Front St
Rockville Centr, NY 11570
Phone:(516) 763-7505
Fax:(516) 763-7555
Website:http://www.abefcu.org
Branches:7 branch locations
Members:8,149
Credit Union Type:Federal Credit Union
Charter Number:18273
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1967
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$127,592,494
CEO/Manager:Jaime L Herrera
Chairperson:Michael Cullen

Call Report

  • Direct Financing Leases
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 41,843,195
TOTAL INVESTMENTS 14,894,137
Loans Held for Sale 0
 
 Real Estate Loans 42,540,972
 Unsecured Loans 8,543,813
 Other Loans 13,792,828
 TOTAL LOANS 64,877,613
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -611,908
 Land And Building 1,956,417
 Other Fixed Assets 139,474
 NCUSIF Deposit 943,861
 All Other Assets 3,549,705
  TOTAL ASSETS 127,592,494
LIABILITIES & CAPITAL:  
 Dividends Payable 3,216
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,151,694
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 26,768,345
 Regular shares 51,128,590
 All Other Shares & Deposits 37,744,247
  TOTAL SHARES & DEPOSITS 115,641,182
  TOTAL LIABILITIES 116,796,092
 Regular Reserve 4,573,029
 Other Reserves -310,125
 Undivided Earnings 6,533,498
  TOTAL EQUITY 10,796,402
  TOTAL LIABILITIES, SHARES, & EQUITY 127,592,494
INCOME & EXPENSE  
 Loan Income 769,018
 Investment Income 64,560
 Other Income 123,516
 Total Employee Compensation & Benefits 561,970
 NCUSIF Premiums Expense 2,694
 Total Other Operating Expenses 422,589
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 40,000
 Cost of Funds 41,832
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -75,267
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