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ABD FEDERAL CREDIT UNION

Sep, 30, 2021 — ABD FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 3 branch locations and about $78.34 million in total assets. Opened 73 years ago in 1948, ABD FEDERAL CREDIT UNION has about 10,407 members and employs 23 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:http://www.abdfcu.com
Branches:3 branch locations
Members:10,407
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$78,344,458
CEO/Manager:James H Carson
Chairperson:Charlie Spann

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 50,160,066
TOTAL INVESTMENTS 10,000,726
Loans Held for Sale 0
 
 Real Estate Loans 2,440,264
 Unsecured Loans 5,515,948
 Other Loans 6,104,991
 TOTAL LOANS 14,061,203
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -143,912
 Land And Building 496,293
 Other Fixed Assets 195,685
 NCUSIF Deposit 640,111
 All Other Assets 2,934,286
  TOTAL ASSETS 78,344,458
LIABILITIES & CAPITAL:  
 Dividends Payable 1,567
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,513,370
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 7,213,352
 Regular shares 41,656,493
 All Other Shares & Deposits 19,469,195
  TOTAL SHARES & DEPOSITS 68,339,040
  TOTAL LIABILITIES 69,853,977
 Regular Reserve 1,177,977
 Other Reserves 0
 Undivided Earnings 7,312,504
  TOTAL EQUITY 8,490,481
  TOTAL LIABILITIES, SHARES, & EQUITY 78,344,458
INCOME & EXPENSE  
 Loan Income 784,575
 Investment Income 142,295
 Other Income 1,127,336
 Total Employee Compensation & Benefits 961,218
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,412,363
 Non-operating Income & (Expense) -12
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 118,100
 Cost of Funds 59,973
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -22,241
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