Dec, 31, 2023 — ABD FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 3 branch locations and about $64.90 million in total assets. Opened 76 years ago in 1948, ABD FEDERAL CREDIT UNION has about 6,756 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ABD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 27850 MOUND RD WARREN, MI 48092 |
| Phone: | (586) 751-4400 |
| Fax: | (586) 751-4407 |
| Website: | https://www.abdfcu.com |
| Branches: | 3 branch locations |
| Members: | 6,756 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5885 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation equipment |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $64,901,014 |
| CEO/Manager: | Taneka Charleston |
| Chairperson: | Charlie Spann |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,664,385 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,213,298 |
| Unsecured Loans | 3,447,852 |
| Other Loans | 9,301,294 |
| TOTAL LOANS | 19,962,444 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -401,454 |
| Land And Building | 438,530 |
| Other Fixed Assets | 155,937 |
| NCUSIF Deposit | 558,716 |
| All Other Assets | 0 |
| TOTAL ASSETS | 64,901,014 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,526 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,345,935 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,824,637 |
| Regular shares | 31,069,301 |
| All Other Shares & Deposits | 16,811,861 |
| TOTAL SHARES & DEPOSITS | 54,705,799 |
| TOTAL LIABILITIES | 56,056,260 |
| Regular Reserve | 0 |
| Other Reserves | -120,151 |
| Undivided Earnings | 8,964,905 |
| TOTAL EQUITY | 8,844,754 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 64,901,014 |
| INCOME & EXPENSE | |
| Loan Income | 1,234,424 |
| Investment Income | 1,720,212 |
| Other Income | 1,211,486 |
| Total Employee Compensation & Benefits | 1,392,512 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,923,357 |
| Non-operating Income & (Expense) | 22,221 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 258,506 |
| Cost of Funds | 157,414 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,024,818 |
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