Sep, 30, 2022 — ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) is a federally insured state chartered credit union headquartered in MONTGOMERY, AL with 9 branch locations and about $429.85 million in total assets. Opened 69 years ago in 1954, ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) has about 44,403 members and employs 115 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: | 44,403 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $429,850,708 |
| CEO/Manager: | David J Dean |
| Chairperson: | Carol J Preston |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 72,035,353 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 42,616,070 |
| Unsecured Loans | 21,426,901 |
| Other Loans | 196,047,941 |
| TOTAL LOANS | 260,090,912 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,932,468 |
| Land And Building | 8,507,280 |
| Other Fixed Assets | 1,322,159 |
| NCUSIF Deposit | 3,842,340 |
| All Other Assets | 265,200 |
| TOTAL ASSETS | 429,850,708 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,075,450 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 82,697,420 |
| Regular shares | 177,422,334 |
| All Other Shares & Deposits | 135,765,926 |
| TOTAL SHARES & DEPOSITS | 395,885,680 |
| TOTAL LIABILITIES | 397,961,130 |
| Regular Reserve | 0 |
| Other Reserves | -720,147 |
| Undivided Earnings | 32,609,725 |
| TOTAL EQUITY | 31,889,578 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 429,850,708 |
| INCOME & EXPENSE | |
| Loan Income | 9,450,086 |
| Investment Income | 1,580,746 |
| Other Income | 3,138,718 |
| Total Employee Compensation & Benefits | 6,565,043 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,967,557 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 696,885 |
| Cost of Funds | 1,082,160 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,381,888 |
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