Jun, 30, 2024 — CREDIT UNION 1 is a federally insured state chartered credit union headquartered in ANCHORAGE, AK with 12 branch locations and about $1.54 billion in total assets. Opened 42 years ago in 1982, CREDIT UNION 1 has about 96,966 members and employs 400 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CREDIT UNION 1 |
|---|---|
| Address: (Main Office) | 1941 Abbott Rd ANCHORAGE, AK 99507 |
| Phone: | (907) 339-9485 |
| Fax: | (907) 339-8501 |
| Website: | https://www.cu1.org |
| Branches: | 12 branch locations |
| Members: | 96,966 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66157 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1982 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,538,100,224 |
| CEO/Manager: | Mark Burgess |
| Chairperson: | Steve Cavin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 221,001,762 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 383,972,283 |
| Unsecured Loans | 70,059,309 |
| Other Loans | 510,826,025 |
| TOTAL LOANS | 967,485,885 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,072,533 |
| Land And Building | 27,020,459 |
| Other Fixed Assets | 7,181,335 |
| NCUSIF Deposit | 11,786,492 |
| All Other Assets | 377,805 |
| TOTAL ASSETS | 1,538,100,224 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,754 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 17,590,539 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 376,791,389 |
| Regular shares | 288,323,937 |
| All Other Shares & Deposits | 713,562,269 |
| TOTAL SHARES & DEPOSITS | 1,378,677,595 |
| TOTAL LIABILITIES | 1,396,270,888 |
| Regular Reserve | 0 |
| Other Reserves | -26,546,540 |
| Undivided Earnings | 168,375,876 |
| TOTAL EQUITY | 141,829,336 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,538,100,224 |
| INCOME & EXPENSE | |
| Loan Income | 31,880,597 |
| Investment Income | 4,017,943 |
| Other Income | 10,744,623 |
| Total Employee Compensation & Benefits | 24,885,922 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 19,290,912 |
| Non-operating Income & (Expense) | -39,494 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,120,345 |
| Cost of Funds | 2,975,178 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,924,801 |
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