Mar, 31, 2022 — ABD FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 3 branch locations and about $77.42 million in total assets. Opened 74 years ago in 1948, ABD FEDERAL CREDIT UNION has about 9,324 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: | 9,324 |
| 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: | $77,419,571 |
| CEO/Manager: | Jared C Chauvin |
| Chairperson: | Charlie Spann |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 39,474,877 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,166,967 |
| Unsecured Loans | 4,730,065 |
| Other Loans | 5,692,305 |
| TOTAL LOANS | 12,589,337 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -244,255 |
| Land And Building | 483,442 |
| Other Fixed Assets | 167,501 |
| NCUSIF Deposit | 695,042 |
| All Other Assets | 0 |
| TOTAL ASSETS | 77,419,571 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,158 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,276,620 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,345,343 |
| Regular shares | 39,927,526 |
| All Other Shares & Deposits | 19,569,279 |
| TOTAL SHARES & DEPOSITS | 67,842,148 |
| TOTAL LIABILITIES | 69,119,926 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 8,299,645 |
| TOTAL EQUITY | 8,299,645 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 77,419,571 |
| INCOME & EXPENSE | |
| Loan Income | 248,355 |
| Investment Income | 57,041 |
| Other Income | 347,418 |
| Total Employee Compensation & Benefits | 307,482 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 452,678 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 115,000 |
| Cost of Funds | 18,290 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -106,147 |
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