Dec, 31, 2022 — ACHIEVE FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in BERLIN, CT with 4 branch locations and about $177.56 million in total assets. Opened 69 years ago in 1954, ACHIEVE FINANCIAL CREDIT UNION has about 16,758 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ACHIEVE FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 279 New Britain Rd BERLIN, CT 06037 |
| Phone: | (860) 828-2790 |
| Fax: | (860) 828-6080 |
| Website: | https://www.achievefinancialcu.com |
| Branches: | 4 branch locations |
| Members: | 16,758 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61256 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $177,558,757 |
| CEO/Manager: | Andrew J Klimkoski |
| Chairperson: | John R Fredericks |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,948,191 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 40,639,000 |
| Unsecured Loans | 18,960,215 |
| Other Loans | 45,667,871 |
| TOTAL LOANS | 105,267,086 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -926,006 |
| Land And Building | 4,084,971 |
| Other Fixed Assets | 1,108,998 |
| NCUSIF Deposit | 1,617,287 |
| All Other Assets | 0 |
| TOTAL ASSETS | 177,558,757 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,792,126 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,457,467 |
| Regular shares | 75,409,108 |
| All Other Shares & Deposits | 57,515,337 |
| TOTAL SHARES & DEPOSITS | 167,381,912 |
| TOTAL LIABILITIES | 169,174,038 |
| Regular Reserve | 0 |
| Other Reserves | -3,646,263 |
| Undivided Earnings | 12,030,982 |
| TOTAL EQUITY | 8,384,719 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 177,558,757 |
| INCOME & EXPENSE | |
| Loan Income | 4,241,629 |
| Investment Income | 585,422 |
| Other Income | 957,286 |
| Total Employee Compensation & Benefits | 2,243,781 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,208,801 |
| Non-operating Income & (Expense) | 456,940 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 537,808 |
| Cost of Funds | 117,219 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,299,442 |
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