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ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU)

Jun, 30, 2021 — ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) is a federally insured state chartered credit union headquartered in Montgomery, AL with 9 branch locations and about $422.69 million in total assets. Opened 67 years ago in 1954, ALABAMA STATE EMPLOYEES CREDIT UNION (ASECU) has about 44,001 members and employs 114 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 262276397
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:44,001
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$422,692,184
CEO/Manager:Mike Hart
Chairperson:Carol J Preston

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 104,933,650
TOTAL INVESTMENTS 73,891,506
Loans Held for Sale 0
 
 Real Estate Loans 35,012,200
 Unsecured Loans 17,425,384
 Other Loans 168,548,669
 TOTAL LOANS 220,986,253
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,514,465
 Land And Building 8,766,588
 Other Fixed Assets 1,577,284
 NCUSIF Deposit 3,472,031
 All Other Assets 12,579,337
  TOTAL ASSETS 422,692,184
LIABILITIES & CAPITAL:  
 Dividends Payable 1
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 681,767
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 77,770,432
 Regular shares 160,794,256
 All Other Shares & Deposits 147,898,985
  TOTAL SHARES & DEPOSITS 386,463,673
  TOTAL LIABILITIES 387,145,441
 Regular Reserve 27,810,531
 Other Reserves 7,211,390
 Undivided Earnings 524,822
  TOTAL EQUITY 35,546,743
  TOTAL LIABILITIES, SHARES, & EQUITY 422,692,184
INCOME & EXPENSE  
 Loan Income 5,804,735
 Investment Income 510,845
 Other Income 1,811,094
 Total Employee Compensation & Benefits 4,019,528
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,515,527
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 553,054
 Cost of Funds 908,006
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 843,690
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