Mar, 31, 2022 — ALABAMA CREDIT UNION is a federally insured state chartered credit union headquartered in TUSCALOOSA, AL with 36 branch locations and about $1.44 billion in total assets. Opened 66 years ago in 1956, ALABAMA CREDIT UNION has about 119,069 members and employs 333 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALABAMA CREDIT UNION |
|---|---|
| Address: (Main Office) | 909 Anna Ave TUSCALOOSA, AL 35401 |
| Phone: | (888) 817-2002 |
| Fax: | (205) 650-1020 |
| Website: | http://www.alabamacu.com |
| Branches: | 36 branch locations |
| Members: | 119,069 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60823 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,444,395,345 |
| CEO/Manager: | Stephen K Swofford |
| Chairperson: | Lynne April |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 120,694,633 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 414,450,430 |
| Unsecured Loans | 40,786,087 |
| Other Loans | 457,468,627 |
| TOTAL LOANS | 912,705,144 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,150,232 |
| Land And Building | 38,415,313 |
| Other Fixed Assets | 2,854,452 |
| NCUSIF Deposit | 11,285,425 |
| All Other Assets | 885,149 |
| TOTAL ASSETS | 1,444,395,345 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 45,260 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,498,132 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 30,000,000 |
| Share Drafts | 251,113,106 |
| Regular shares | 542,625,570 |
| All Other Shares & Deposits | 506,932,787 |
| TOTAL SHARES & DEPOSITS | 1,300,671,463 |
| TOTAL LIABILITIES | 1,338,214,855 |
| Regular Reserve | 0 |
| Other Reserves | -2,222,606 |
| Undivided Earnings | 108,403,096 |
| TOTAL EQUITY | 106,180,490 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,444,395,345 |
| INCOME & EXPENSE | |
| Loan Income | 9,666,211 |
| Investment Income | 1,208,278 |
| Other Income | 5,920,479 |
| Total Employee Compensation & Benefits | 5,390,950 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,468,906 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 625,700 |
| Cost of Funds | 1,582,175 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,963,925 |
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