ALABAMA RURAL ELECTRIC CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.arecu.net for more information.
Dec, 31, 2023 — ALABAMA RURAL ELECTRIC CREDIT UNION is a federally insured state chartered credit union headquartered in MONTGOMERY, AL with 1 branch location and about $48.61 million in total assets. Opened 55 years ago in 1969, ALABAMA RURAL ELECTRIC CREDIT UNION has about 3,735 members and employs 9 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 RURAL ELECTRIC CREDIT UNION |
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Address: (Main Office) | PO BOX 240547 MONTGOMERY, AL 36124 |
Phone: | (334) 215-7328 |
Fax: | (334) 215-7946 |
Website: | https://www.arecu.net |
Branches: | 1 branch locations |
Members: | 3,735 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68624 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1969 |
Last Audited: | Dec 01, 2018 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $48,613,093 |
CEO/Manager: | Jane J Boysen |
Chairperson: | Jeff Hodges |
ASSETS: | $ Amount |
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Cash & Equivalents | 13,607,050 |
TOTAL INVESTMENTS | 10,983,020 |
Loans Held for Sale | 0 |
Real Estate Loans | 68,018 |
Unsecured Loans | 2,364,794 |
Other Loans | 19,955,436 |
TOTAL LOANS | 23,910,631 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -357,976 |
Land And Building | 0 |
Other Fixed Assets | 38,281 |
NCUSIF Deposit | 285,142 |
All Other Assets | 146,945 |
TOTAL ASSETS | 48,613,093 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 17,446 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 7,384,058 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,746,877 |
Regular shares | 10,372,537 |
All Other Shares & Deposits | 24,546,628 |
TOTAL SHARES & DEPOSITS | 38,666,042 |
TOTAL LIABILITIES | 46,067,546 |
Regular Reserve | 1,620,365 |
Other Reserves | 0 |
Undivided Earnings | 925,182 |
TOTAL EQUITY | 2,545,547 |
TOTAL LIABILITIES, SHARES, & EQUITY | 48,613,093 |
INCOME & EXPENSE | |
Loan Income | 632,129 |
Investment Income | 84,638 |
Other Income | 157,182 |
Total Employee Compensation & Benefits | 457,647 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 650,755 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 274,000 |
Cost of Funds | 1,227,664 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -1,736,117 |
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