Sep, 30, 2022 — ABD FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 3 branch locations and about $69.16 million in total assets. Opened 75 years ago in 1948, ABD FEDERAL CREDIT UNION has about 8,163 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ABD FEDERAL CREDIT UNION |
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Address: (Main Office) | 27850 MOUND RD WARREN, MI 48092 |
Phone: | (586) 751-4400 |
Fax: | (586) 751-4407 |
Website: | https://www.abdfcu.com |
Branches: | 3 branch locations |
Members: | 8,163 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5885 |
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Membership Type: | Multiple common bond - Primarily transportation equipment |
Corporate Credit Union: | No |
Year Opened: | 1948 |
Last Audited: | Dec 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $69,162,814 |
CEO/Manager: | Jared C Chauvin |
Chairperson: | Charlie Spann |
ASSETS: | $ Amount |
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Cash & Equivalents | 12,032,543 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,049,483 |
Unsecured Loans | 4,336,225 |
Other Loans | 8,213,307 |
TOTAL LOANS | 17,599,015 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -378,442 |
Land And Building | 470,610 |
Other Fixed Assets | 129,857 |
NCUSIF Deposit | 621,711 |
All Other Assets | 0 |
TOTAL ASSETS | 69,162,814 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 892 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,080,866 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,542,986 |
Regular shares | 35,117,391 |
All Other Shares & Deposits | 18,506,009 |
TOTAL SHARES & DEPOSITS | 60,166,386 |
TOTAL LIABILITIES | 61,248,144 |
Regular Reserve | 0 |
Other Reserves | -24,974 |
Undivided Earnings | 7,939,644 |
TOTAL EQUITY | 7,914,670 |
TOTAL LIABILITIES, SHARES, & EQUITY | 69,162,814 |
INCOME & EXPENSE | |
Loan Income | 791,744 |
Investment Income | 321,385 |
Other Income | 1,000,681 |
Total Employee Compensation & Benefits | 984,963 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,343,373 |
Non-operating Income & (Expense) | 160,024 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 789,024 |
Cost of Funds | 52,282 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -466,150 |
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