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ABD FEDERAL CREDIT UNION

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
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
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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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