Jun, 30, 2024 — AMERICA'S FIRST NETWORK CREDIT UNION is a federally insured state chartered credit union headquartered in EAST HARTFORD, CT with 8 branch locations and about $62.72 million in total assets. Opened 49 years ago in 1976, AMERICA'S FIRST NETWORK CREDIT UNION has about 5,698 members and employs 19 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMERICA'S FIRST NETWORK CREDIT UNION |
|---|---|
| Address: (Main Office) | 92 Pitkin St EAST HARTFORD, CT 06108-3318 |
| Phone: | (860) 291-0345 |
| Fax: | |
| Website: | https://afncu.com |
| Branches: | 8 branch locations |
| Members: | 5,698 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68680 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1976 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $62,720,694 |
| CEO/Manager: | Nicholas A Moalli |
| Chairperson: | Philip Lane |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,591,464 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 23,464,967 |
| Unsecured Loans | 5,426,233 |
| Other Loans | 11,200,400 |
| TOTAL LOANS | 40,091,600 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -91,632 |
| Land And Building | 0 |
| Other Fixed Assets | 213,020 |
| NCUSIF Deposit | 530,725 |
| All Other Assets | 0 |
| TOTAL ASSETS | 62,720,694 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,852,149 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,915,010 |
| Regular shares | 39,660,997 |
| All Other Shares & Deposits | 8,077,260 |
| TOTAL SHARES & DEPOSITS | 55,653,267 |
| TOTAL LIABILITIES | 57,505,416 |
| Regular Reserve | 0 |
| Other Reserves | 2,901,821 |
| Undivided Earnings | 2,313,457 |
| TOTAL EQUITY | 5,215,278 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 62,720,694 |
| INCOME & EXPENSE | |
| Loan Income | 1,340,040 |
| Investment Income | 218,716 |
| Other Income | 168,912 |
| Total Employee Compensation & Benefits | 878,405 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 904,313 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,996 |
| Cost of Funds | 54,609 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 391,172 |
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