Dec, 31, 2023 — 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 $74.62 million in total assets. Opened 48 years ago in 1976, AMERICA'S FIRST NETWORK CREDIT UNION has about 6,892 members and employs 22 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: | 6,892 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $74,617,475 |
| CEO/Manager: | Nicholas A Moalli |
| Chairperson: | Philip Lane |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,785,881 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 25,493,388 |
| Unsecured Loans | 7,159,345 |
| Other Loans | 13,720,770 |
| TOTAL LOANS | 46,373,503 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -311,261 |
| Land And Building | 0 |
| Other Fixed Assets | 569,710 |
| NCUSIF Deposit | 645,465 |
| All Other Assets | 0 |
| TOTAL ASSETS | 74,617,475 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 628,478 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,223,743 |
| Regular shares | 42,430,609 |
| All Other Shares & Deposits | 15,265,357 |
| TOTAL SHARES & DEPOSITS | 65,919,709 |
| TOTAL LIABILITIES | 66,548,187 |
| Regular Reserve | 0 |
| Other Reserves | 5,335,341 |
| Undivided Earnings | 2,733,947 |
| TOTAL EQUITY | 8,069,288 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 74,617,475 |
| INCOME & EXPENSE | |
| Loan Income | 2,409,268 |
| Investment Income | 685,803 |
| Other Income | 256,146 |
| Total Employee Compensation & Benefits | 1,504,102 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,495,379 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 100,485 |
| Cost of Funds | 333,804 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 591,830 |
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