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 |
| 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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