Dec, 31, 2022 — ALLEGACY FEDERAL CREDIT UNION is a federal credit union headquartered in WINSTON SALEM, NC with 28 branch locations and about $2.12 billion in total assets. Opened 56 years ago in 1967, ALLEGACY FEDERAL CREDIT UNION has about 172,468 members and employs 415 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALLEGACY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1691 Westbrook Plaza Dr WINSTON SALEM, NC 27103-2993 |
| Phone: | (336) 774-3400 |
| Fax: | (336) 774-4994 |
| Website: | https://www.allegacy.org |
| Branches: | 28 branch locations |
| Members: | 172,468 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24438 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,116,335,752 |
| CEO/Manager: | Cathy J Pace |
| Chairperson: | Borgia Walker |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 168,034,020 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 965,318 |
| Real Estate Loans | 1,003,082,472 |
| Unsecured Loans | 65,613,363 |
| Other Loans | 526,773,438 |
| TOTAL LOANS | 1,595,469,273 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -16,418,130 |
| Land And Building | 30,057,184 |
| Other Fixed Assets | 13,561,399 |
| NCUSIF Deposit | 15,756,069 |
| All Other Assets | 114,975 |
| TOTAL ASSETS | 2,116,335,752 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 267 |
| Notes & Interest Payable | 34,940,476 |
| Accounts Payable & Other Liabilities | 25,242,353 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 496,777,620 |
| Regular shares | 647,978,744 |
| All Other Shares & Deposits | 702,482,381 |
| TOTAL SHARES & DEPOSITS | 1,847,238,745 |
| TOTAL LIABILITIES | 1,907,421,841 |
| Regular Reserve | 0 |
| Other Reserves | -5,872,397 |
| Undivided Earnings | 214,786,308 |
| TOTAL EQUITY | 208,913,911 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,116,335,752 |
| INCOME & EXPENSE | |
| Loan Income | 43,595,533 |
| Investment Income | 4,641,962 |
| Other Income | 23,492,998 |
| Total Employee Compensation & Benefits | 35,114,859 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 27,734,636 |
| Non-operating Income & (Expense) | 89,981 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 93,028 |
| Cost of Funds | 3,343,226 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 15,549,638 |
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