Sep, 30, 2022 — ALABAMA CREDIT UNION is a federally insured state chartered credit union headquartered in TUSCALOOSA, AL with 36 branch locations and about $1.54 billion in total assets. Opened 67 years ago in 1956, ALABAMA CREDIT UNION has about 130,047 members and employs 341 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: | https://www.alabamacu.com |
| Branches: | 36 branch locations |
| Members: | 130,047 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,540,313,367 |
| CEO/Manager: | Stephen K Swofford |
| Chairperson: | Lynne April |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 35,550,929 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 553,283,706 |
| Unsecured Loans | 48,573,248 |
| Other Loans | 549,119,762 |
| TOTAL LOANS | 1,150,976,716 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,851,086 |
| Land And Building | 42,099,400 |
| Other Fixed Assets | 3,291,825 |
| NCUSIF Deposit | 11,982,347 |
| All Other Assets | 711,682 |
| TOTAL ASSETS | 1,540,313,367 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 67,209 |
| Notes & Interest Payable | 49,000,000 |
| Accounts Payable & Other Liabilities | 9,188,453 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 48,500,000 |
| Share Drafts | 265,350,358 |
| Regular shares | 549,639,150 |
| All Other Shares & Deposits | 520,758,583 |
| TOTAL SHARES & DEPOSITS | 1,335,748,091 |
| TOTAL LIABILITIES | 1,442,503,753 |
| Regular Reserve | 0 |
| Other Reserves | -17,085,597 |
| Undivided Earnings | 114,895,211 |
| TOTAL EQUITY | 97,809,614 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,540,313,367 |
| INCOME & EXPENSE | |
| Loan Income | 33,426,151 |
| Investment Income | 4,134,637 |
| Other Income | 17,307,930 |
| Total Employee Compensation & Benefits | 16,716,865 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 20,207,569 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,514,805 |
| Cost of Funds | 5,231,895 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,456,040 |
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