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ABD FEDERAL CREDIT UNION

Mar, 31, 2021 — ABD FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 3 branch locations and about $82.17 million in total assets. Opened 73 years ago in 1948, ABD FEDERAL CREDIT UNION has about 10,567 members and employs 24 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:10,567
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$82,170,706
CEO/Manager:James H Carson
Chairperson:Charlie Spann

Call Report

  • Indirect Consumer Loans
  • Indirect Mortgage Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 52,059,358
TOTAL INVESTMENTS 12,575,654
Loans Held for Sale 0
 
 Real Estate Loans 2,738,068
 Unsecured Loans 3,921,096
 Other Loans 6,415,709
 TOTAL LOANS 13,074,873
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -117,775
 Land And Building 508,161
 Other Fixed Assets 237,795
 NCUSIF Deposit 626,987
 All Other Assets 3,205,653
  TOTAL ASSETS 82,170,706
LIABILITIES & CAPITAL:  
 Dividends Payable 1,619
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,385,523
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,688,894
 Regular shares 44,160,040
 All Other Shares & Deposits 19,487,475
  TOTAL SHARES & DEPOSITS 72,336,409
  TOTAL LIABILITIES 73,723,551
 Regular Reserve 1,177,977
 Other Reserves 0
 Undivided Earnings 7,269,178
  TOTAL EQUITY 8,447,155
  TOTAL LIABILITIES, SHARES, & EQUITY 82,170,706
INCOME & EXPENSE  
 Loan Income 249,680
 Investment Income 62,488
 Other Income 354,093
 Total Employee Compensation & Benefits 331,928
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 445,922
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 67,000
 Cost of Funds 19,489
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -65,565
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