Sep, 30, 2025 — ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) is a federally insured state chartered credit union headquartered in MONTGOMERY, AL with 9 branch locations and about $426.34 million in total assets. Opened 72 years ago in 1954, ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) has about 39,423 members and employs 124 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 STATE EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 4217 Lomac St MONTGOMERY, AL 36106 |
| Phone: | (334) 420-7466 |
| Fax: | |
| Website: | https://www.yourasecu.com |
| Branches: | 9 branch locations |
| Members: | 39,423 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64598 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $426,341,251 |
| CEO/Manager: | Shannon M Watkins |
| Chairperson: | Sharon K Mills |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 63,590,192 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 42,487,278 |
| Unsecured Loans | 27,124,904 |
| Other Loans | 176,160,389 |
| TOTAL LOANS | 252,363,098 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,842,388 |
| Land And Building | 7,894,162 |
| Other Fixed Assets | 2,448,243 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,529,920 |
| All Other Assets | 18,700 |
| TOTAL ASSETS | 426,341,251 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,184,242 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 67,098,125 |
| Regular shares | 102,981,082 |
| All Other Shares & Deposits | 205,152,414 |
| TOTAL SHARES & DEPOSITS | 375,231,620 |
| TOTAL LIABILITIES | 378,415,862 |
| Regular Reserve | 0 |
| Other Reserves | 4,482,484 |
| Undivided Earnings | 43,442,905 |
| TOTAL EQUITY | 47,925,389 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 426,341,251 |
| INCOME & EXPENSE | |
| Loan Income | 14,055,129 |
| Investment Income | 3,141,102 |
| Other Income | 3,031,752 |
| Total Employee Compensation & Benefits | 7,399,725 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 6,159,762 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,615,248 |
| Cost of Funds | 4,032,385 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,480,794 |
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