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National Credit Union Service Organization

ASCEND FEDERAL CREDIT UNION

Mar, 31, 2021 — ASCEND FEDERAL CREDIT UNION is a federal credit union headquartered in TULLAHOMA, TN with 29 branch locations and about $3.32 billion in total assets. Opened 70 years ago in 1951, ASCEND FEDERAL CREDIT UNION has about 229,620 members and employs 595 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 264181626
Name:ASCEND FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 1210
TULLAHOMA, TN 37388
Phone:(800) 342-3086
Fax:
Website:https://ascend.org
Branches:29 branch locations
Members:229,620
Credit Union Type:Federal Credit Union
Charter Number:7397
Membership Type:Multiple common bond - Primarily military
Corporate Credit Union:No
Year Opened:1951
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$3,318,627,111
CEO/Manager:Caren C Gabriel
Chairperson:Patrick D Eagan

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Individual Development Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 417,786,724
TOTAL INVESTMENTS 453,474,824
Loans Held for Sale 525,000
 
 Real Estate Loans 1,073,791,229
 Unsecured Loans 133,124,712
 Other Loans 1,069,370,531
 TOTAL LOANS 2,276,286,472
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -11,770,488
 Land And Building 78,180,547
 Other Fixed Assets 12,988,560
 NCUSIF Deposit 24,059,939
 All Other Assets 67,095,533
  TOTAL ASSETS 3,318,627,111
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 23,926,520
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 433,443,298
 Regular shares 1,091,997,468
 All Other Shares & Deposits 1,320,027,276
  TOTAL SHARES & DEPOSITS 2,845,468,042
  TOTAL LIABILITIES 2,869,394,562
 Regular Reserve 26,620,701
 Other Reserves -3,030,146
 Undivided Earnings 425,641,994
  TOTAL EQUITY 449,232,549
  TOTAL LIABILITIES, SHARES, & EQUITY 3,318,627,111
INCOME & EXPENSE  
 Loan Income 23,292,797
 Investment Income 1,469,556
 Other Income 3,972,415
 Total Employee Compensation & Benefits 11,434,025
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 12,684,206
 Non-operating Income & (Expense) 274,966
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 566,358
 Cost of Funds 4,468,484
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,317,462
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