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ACADEMIC FEDERAL CREDIT UNION

Dec, 31, 2020 — ACADEMIC FEDERAL CREDIT UNION is a federal credit union headquartered in BRIARCLIFF MANO, NY with 1 branch location and about $39.66 million in total assets. Opened 42 years ago in 1979, ACADEMIC FEDERAL CREDIT UNION has about 2,874 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 221982389
Name:ACADEMIC FEDERAL CREDIT UNION
Address:
(Main Office)
425 N STATE RD
BRIARCLIFF MANO, NY 10510-1469
Phone:(914) 923-3608
Fax:(914) 923-3635
Website:http://www.academicfcu.org
Branches:1 branch locations
Members:2,874
Credit Union Type:Federal Credit Union
Charter Number:23425
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1979
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$39,659,397
CEO/Manager:Jonathan S Kaufman
Chairperson:Raymond H Lopez

Call Report

  • Commercial Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,724,819
TOTAL INVESTMENTS 12,227,504
Loans Held for Sale 0
 
 Real Estate Loans 10,123,753
 Unsecured Loans 4,513,726
 Other Loans 1,933,543
 TOTAL LOANS 18,242,962
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -356,488
 Land And Building 1,129,358
 Other Fixed Assets 76,094
 NCUSIF Deposit 305,669
 All Other Assets 309,479
  TOTAL ASSETS 39,659,397
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 166,928
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,163,104
 Regular shares 17,703,475
 All Other Shares & Deposits 14,291,878
  TOTAL SHARES & DEPOSITS 36,158,457
  TOTAL LIABILITIES 36,325,385
 Regular Reserve 895,586
 Other Reserves 79,505
 Undivided Earnings 2,358,921
  TOTAL EQUITY 3,334,012
  TOTAL LIABILITIES, SHARES, & EQUITY 39,659,397
INCOME & EXPENSE  
 Loan Income 1,001,014
 Investment Income 161,323
 Other Income 192,819
 Total Employee Compensation & Benefits 493,063
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 651,490
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 407,624
 Cost of Funds 213,825
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -410,846
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