Dec, 31, 2023 — ASCEND FEDERAL CREDIT UNION is a federal credit union headquartered in TULLAHOMA, TN with 27 branch locations and about $4.25 billion in total assets. Opened 73 years ago in 1951, ASCEND FEDERAL CREDIT UNION has about 236,616 members and employs 634 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ASCEND FEDERAL CREDIT UNION |
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Address: (Main Office) | 520 Airpark Dr TULLAHOMA, TN 37388 |
Phone: | (800) 342-3086 |
Fax: | |
Website: | https://ascend.org |
Branches: | 27 branch locations |
Members: | 236,616 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7397 |
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Membership Type: | Multiple common bond - Primarily military |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $4,253,690,104 |
CEO/Manager: | Matthew Jernigan |
Chairperson: | Mark Rigney |
ASSETS: | $ Amount |
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Cash & Equivalents | 298,188,776 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,524,963,489 |
Unsecured Loans | 181,364,472 |
Other Loans | 1,295,486,951 |
TOTAL LOANS | 3,001,814,913 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -16,176,510 |
Land And Building | 73,276,836 |
Other Fixed Assets | 20,526,765 |
NCUSIF Deposit | 30,079,125 |
All Other Assets | 2,197,800 |
TOTAL ASSETS | 4,253,690,104 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 327,800,000 |
Accounts Payable & Other Liabilities | 66,173,498 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 512,348,148 |
Regular shares | 1,071,885,266 |
All Other Shares & Deposits | 1,814,234,690 |
TOTAL SHARES & DEPOSITS | 3,398,468,104 |
TOTAL LIABILITIES | 3,792,441,602 |
Regular Reserve | 0 |
Other Reserves | -112,503,429 |
Undivided Earnings | 573,751,931 |
TOTAL EQUITY | 461,248,502 |
TOTAL LIABILITIES, SHARES, & EQUITY | 4,253,690,104 |
INCOME & EXPENSE | |
Loan Income | 144,821,120 |
Investment Income | 29,398,642 |
Other Income | 27,246,133 |
Total Employee Compensation & Benefits | 52,453,419 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 55,532,787 |
Non-operating Income & (Expense) | 844,863 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,689,388 |
Cost of Funds | 67,149,012 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 37,513,594 |
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