Dec, 31, 2023 — ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in YOUNGSTOWN, OH with 4 branch locations and about $183.75 million in total assets. Opened 66 years ago in 1958, ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION has about 14,212 members and employs 32 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ASSOCIATED SCHOOL EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 1690 S Canfield Niles Rd YOUNGSTOWN, OH 44515-4055 |
| Phone: | (330) 792-4000 |
| Fax: | (330) 792-4909 |
| Website: | https://asecu.com |
| Branches: | 4 branch locations |
| Members: | 14,212 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68587 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $183,753,769 |
| CEO/Manager: | Michael J Kurish |
| Chairperson: | Frank Lazzeri |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,928,854 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 40,181,402 |
| Unsecured Loans | 2,646,138 |
| Other Loans | 79,929,063 |
| TOTAL LOANS | 122,756,603 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -519,220 |
| Land And Building | 959,649 |
| Other Fixed Assets | 195,585 |
| NCUSIF Deposit | 1,654,569 |
| All Other Assets | 0 |
| TOTAL ASSETS | 183,753,769 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 547,544 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 336,364 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 27,636,154 |
| Regular shares | 80,517,043 |
| All Other Shares & Deposits | 56,947,297 |
| TOTAL SHARES & DEPOSITS | 165,100,496 |
| TOTAL LIABILITIES | 165,984,404 |
| Regular Reserve | 0 |
| Other Reserves | 995,085 |
| Undivided Earnings | 16,774,280 |
| TOTAL EQUITY | 17,769,365 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 183,753,769 |
| INCOME & EXPENSE | |
| Loan Income | 4,931,337 |
| Investment Income | 627,690 |
| Other Income | 1,198,997 |
| Total Employee Compensation & Benefits | 2,275,879 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,395,732 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 67,000 |
| Cost of Funds | 1,377,207 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 642,206 |
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» See also Statement of Financial Condition