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AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION

Jun, 30, 2021 — AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Rockville Centr, NY with 7 branch locations and about $126.02 million in total assets. Opened 54 years ago in 1967, AMERICAN BROADCAST EMPLOYEES FEDERAL CREDIT UNION has about 8,076 members and employs 27 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:8,076
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:$126,020,513
CEO/Manager:Jaime L Herrera
Chairperson:Michael Cullen

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 40,407,617
TOTAL INVESTMENTS 15,316,900
Loans Held for Sale 0
 
 Real Estate Loans 42,627,832
 Unsecured Loans 8,245,721
 Other Loans 13,641,192
 TOTAL LOANS 64,514,745
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -479,822
 Land And Building 1,945,942
 Other Fixed Assets 126,271
 NCUSIF Deposit 1,022,184
 All Other Assets 3,166,676
  TOTAL ASSETS 126,020,513
LIABILITIES & CAPITAL:  
 Dividends Payable 2,995
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,498,643
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 26,472,992
 Regular shares 50,643,852
 All Other Shares & Deposits 36,614,062
  TOTAL SHARES & DEPOSITS 113,730,906
  TOTAL LIABILITIES 115,232,544
 Regular Reserve 4,573,028
 Other Reserves -310,125
 Undivided Earnings 6,525,066
  TOTAL EQUITY 10,787,969
  TOTAL LIABILITIES, SHARES, & EQUITY 126,020,513
INCOME & EXPENSE  
 Loan Income 1,524,393
 Investment Income 120,985
 Other Income 249,178
 Total Employee Compensation & Benefits 1,099,786
 NCUSIF Premiums Expense 5,387
 Total Other Operating Expenses 829,722
 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 82,620
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -83,698
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