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National Credit Union Service Organization

ALABAMA RURAL ELECTRIC CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for ALABAMA RURAL ELECTRIC CREDIT UNION as of: June 30, 2021.
Charter Number: 68624

ASSETS$ Amount
CASH:  
 1. Cash on Hand 146,476
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 13,460,574
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 0
 7. Held-to-Maturity Debt Securities 0
 8. Deposits in commercial banks, S&Ls, savings banks 4,123,000
 9. Loans to and investments in natural person credit unions 2,300,000
 10. Nonperpetual Capital Account 30,020
 11. Perpetual Contributed Capital 530,000
 12. All other investments in corporate credit unions 4,000,000
 13. All other investments 0
 14. TOTAL INVESTMENTS 10,983,020
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 23,910,631
 17. Less: Allowance for Loan & Lease Losses 357,976
 18: Less: Allowance for Credit Losses on Loans & Leases 0
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 0
 20. Land and Building 0
 21. Other Fixed Assets 38,281
 22. NCUA Share Insurance Capitalization Deposit 285,142
 23. Intangible Assets 0
 24. Other Assets 146,945
25. TOTAL ASSETS 48,613,093
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 0
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 0
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 17,446
 9. Accounts Payable and Other Liabilities 7,384,058
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 3,746,877
 12. Regular Shares 10,372,537
 13. Money Market Shares 7,178,001
 14. Share Certificates 12,744,266
 15. IRA/KEOGH Accounts 4,624,361
 16. All Other Shares 0
 17. TOTAL SHARES 38,666,042
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 38,666,042
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 8,021,819
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 2,650,473
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 0
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 1,905
EQUITY:  
 33. Undivided Earnings 925,182
 34. Regular Reserves 1,620,365
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 0
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities 0
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 48,613,093
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 632,129
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 84,638
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 716,767
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 1,227,664
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 0
 9. TOTAL INTEREST EXPENSE 1,227,664
 10. Provision for Loan & Lease Losses 274,000
 11. Total Credit Loss Expense 0
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE -784,897
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 54,686
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 102,496
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 0
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 157,182
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 457,647
 23. Travel and Conference Expense 8,049
 24. Office Occupancy Expense 15,982
 25. Office Operations Expense 110,593
 26. Educational and Promotional Expenses 8,216
 27. Loan Servicing Expense 106,448
 28. Professional and Outside Services 377,700
 29. Total Member Insurance 338
 30. Operating Fees (Examination and/or supervision fees) 7,373
 31. Miscellaneous Operating Expenses 16,056
 32. TOTAL NON-INTEREST EXPENSE 1,108,402
33. NET INCOME (LOSS) -1,736,117
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans13.90879$667,291
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans9.00577$1,697,503
 5. New Vehicle Loans3.75236$6,476,459
 6. Used Vehicle Loans3.75733$10,962,063
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit5.00219$2,459,603
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property6.001$68,018
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property00$0
 11. All Other Real Estate Loans/Lines of Credit4.5023$1,522,383
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured0.000$0
 13. Commercial Loans/Lines of Credit Not Real Estate Secured13.90766$57,311
 14. TOTAL LOANS & LEASES3,434$23,910,631
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date485$4,842,982
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff18$115,631
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0