Jun, 30, 2024 — ABERDEEN FEDERAL CREDIT UNION is a federal credit union headquartered in ABERDEEN, SD with 1 branch location and about $188.32 million in total assets. Opened 89 years ago in 1935, ABERDEEN FEDERAL CREDIT UNION has about 11,707 members and employs 32 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ABERDEEN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2324 8TH AVE NE ABERDEEN, SD 57401 |
| Phone: | (605) 225-2488 |
| Fax: | (605) 225-5737 |
| Website: | https://www.areafcu.org |
| Branches: | 1 branch locations |
| Members: | 11,707 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 274 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $188,321,456 |
| CEO/Manager: | Steve Streier |
| Chairperson: | Douglas Thompson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 22,876,523 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 147,600 |
| Real Estate Loans | 15,525,267 |
| Unsecured Loans | 958,080 |
| Other Loans | 85,532,288 |
| TOTAL LOANS | 102,717,472 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -161,903 |
| Land And Building | 1,253,931 |
| Other Fixed Assets | 135,883 |
| NCUSIF Deposit | 1,535,120 |
| All Other Assets | 0 |
| TOTAL ASSETS | 188,321,456 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,873 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,995,938 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 43,524,046 |
| Regular shares | 80,384,958 |
| All Other Shares & Deposits | 39,279,718 |
| TOTAL SHARES & DEPOSITS | 163,188,722 |
| TOTAL LIABILITIES | 165,188,533 |
| Regular Reserve | 0 |
| Other Reserves | -1,918,755 |
| Undivided Earnings | 25,051,678 |
| TOTAL EQUITY | 23,132,923 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 188,321,456 |
| INCOME & EXPENSE | |
| Loan Income | 3,019,201 |
| Investment Income | 455,712 |
| Other Income | 849,317 |
| Total Employee Compensation & Benefits | 1,610,705 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,327,847 |
| Non-operating Income & (Expense) | -89,613 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 94,796 |
| Cost of Funds | 311,449 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,207,409 |
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