Dec, 31, 2023 — ABOUND FEDERAL CREDIT UNION is a federal credit union headquartered in RADCLIFF, KY with 17 branch locations and about $2.26 billion in total assets. Opened 74 years ago in 1950, ABOUND FEDERAL CREDIT UNION has about 134,931 members and employs 359 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ABOUND FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3939 S Dixie Blvd RADCLIFF, KY 40160-5113 |
| Phone: | (800) 285-5669 |
| Fax: | |
| Website: | https://www.aboundcu.com |
| Branches: | 17 branch locations |
| Members: | 134,931 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7000 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,260,952,942 |
| CEO/Manager: | Raymond H Springsteen |
| Chairperson: | Richard L Ardisson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 223,755,235 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 756,033,790 |
| Unsecured Loans | 119,705,610 |
| Other Loans | 748,961,107 |
| TOTAL LOANS | 1,624,700,507 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -31,484,782 |
| Land And Building | 19,982,243 |
| Other Fixed Assets | 5,107,836 |
| NCUSIF Deposit | 13,154,897 |
| All Other Assets | 454,000 |
| TOTAL ASSETS | 2,260,952,942 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,899,506 |
| Notes & Interest Payable | 85,000,000 |
| Accounts Payable & Other Liabilities | 19,186,582 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 229,004,892 |
| Regular shares | 408,687,988 |
| All Other Shares & Deposits | 1,218,836,511 |
| TOTAL SHARES & DEPOSITS | 1,856,529,391 |
| TOTAL LIABILITIES | 1,968,844,440 |
| Regular Reserve | 0 |
| Other Reserves | -66,544,593 |
| Undivided Earnings | 358,653,095 |
| TOTAL EQUITY | 292,108,502 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,260,952,942 |
| INCOME & EXPENSE | |
| Loan Income | 84,235,581 |
| Investment Income | 15,622,432 |
| Other Income | 11,690,236 |
| Total Employee Compensation & Benefits | 24,478,042 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 23,117,847 |
| Non-operating Income & (Expense) | 12,663 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,058,512 |
| Cost of Funds | 36,277,476 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 29,107,602 |
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