Dec, 31, 2022 — AZALEA CITY CREDIT UNION is a federally insured state chartered credit union headquartered in MOBILE, AL with 3 branch locations and about $35.24 million in total assets. Opened 69 years ago in 1954, AZALEA CITY CREDIT UNION has about 3,853 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AZALEA CITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 5662 Cottage Hill Rd MOBILE, AL 36609 |
| Phone: | (251) 316-0000 |
| Fax: | (251) 316-0003 |
| Website: | https://www.azaleacitycu.com |
| Branches: | 3 branch locations |
| Members: | 3,853 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68224 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $35,239,882 |
| CEO/Manager: | Olabode Anise |
| Chairperson: | JERRY BYRD |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,685,535 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,577,880 |
| Unsecured Loans | 1,835,448 |
| Other Loans | 17,428,772 |
| TOTAL LOANS | 22,842,100 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -331,414 |
| Land And Building | 2,502,588 |
| Other Fixed Assets | 39,365 |
| NCUSIF Deposit | 296,647 |
| All Other Assets | 146,174 |
| TOTAL ASSETS | 35,239,882 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 361,237 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,630,544 |
| Regular shares | 17,523,562 |
| All Other Shares & Deposits | 7,867,740 |
| TOTAL SHARES & DEPOSITS | 30,021,846 |
| TOTAL LIABILITIES | 30,383,083 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 4,856,799 |
| TOTAL EQUITY | 4,856,799 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 35,239,882 |
| INCOME & EXPENSE | |
| Loan Income | 995,010 |
| Investment Income | 62,643 |
| Other Income | 289,363 |
| Total Employee Compensation & Benefits | 582,738 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 628,607 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 21,489 |
| Cost of Funds | 70,596 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 328,284 |
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