Dec, 31, 2023 — FLORIDA A & M UNIVERSITY FEDERAL CREDIT UNION is a federal credit union headquartered in TALLAHASSEE, FL with 1 branch location and about $29.09 million in total assets. Opened 89 years ago in 1935, FLORIDA A & M UNIVERSITY FEDERAL CREDIT UNION has about 3,926 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FLORIDA A & M UNIVERSITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1610 S Monroe St TALLAHASSEE, FL 32301-5524 |
| Phone: | (850) 222-4541 |
| Fax: | (850) 222-5401 |
| Website: | https://www.famufcu.com |
| Branches: | 1 branch locations |
| Members: | 3,926 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 187 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,093,375 |
| CEO/Manager: | Michelle R Outlaw |
| Chairperson: | Lorenzo Alexander |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,281,794 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,661,545 |
| Unsecured Loans | 1,122,864 |
| Other Loans | 6,399,387 |
| TOTAL LOANS | 11,279,248 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -405,237 |
| Land And Building | 886,929 |
| Other Fixed Assets | 128,399 |
| NCUSIF Deposit | 233,735 |
| All Other Assets | 0 |
| TOTAL ASSETS | 29,093,375 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 473,330 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,002,064 |
| Regular shares | 13,027,406 |
| All Other Shares & Deposits | 5,668,690 |
| TOTAL SHARES & DEPOSITS | 24,698,161 |
| TOTAL LIABILITIES | 25,171,491 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,921,884 |
| TOTAL EQUITY | 3,921,884 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,093,375 |
| INCOME & EXPENSE | |
| Loan Income | 745,061 |
| Investment Income | 634,413 |
| Other Income | 243,038 |
| Total Employee Compensation & Benefits | 688,958 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,056,744 |
| Non-operating Income & (Expense) | -25,225 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 119,949 |
| Cost of Funds | 44,057 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 12,916 |
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