Dec, 31, 2023 — AMERICAN 1 CREDIT UNION is a federally insured state chartered credit union headquartered in JACKSON, MI with 18 branch locations and about $683.63 million in total assets. Opened 44 years ago in 1980, AMERICAN 1 CREDIT UNION has about 64,464 members and employs 260 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMERICAN 1 CREDIT UNION |
|---|---|
| Address: (Main Office) | 718 E Michigan Ave JACKSON, MI 49201 |
| Phone: | (517) 787-6510 |
| Fax: | |
| Website: | https://www.american1cu.org |
| Branches: | 18 branch locations |
| Members: | 64,464 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65595 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1980 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $683,625,419 |
| CEO/Manager: | Martha Fuerstenau |
| Chairperson: | Philip Hoffman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 199,817,850 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,843,809 |
| Unsecured Loans | 120,546,640 |
| Other Loans | 318,907,831 |
| TOTAL LOANS | 447,298,280 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,488,248 |
| Land And Building | 13,591,593 |
| Other Fixed Assets | 1,814,820 |
| NCUSIF Deposit | 4,689,979 |
| All Other Assets | 264,100 |
| TOTAL ASSETS | 683,625,419 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 557,089 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,907,565 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 109,522,307 |
| Regular shares | 177,776,653 |
| All Other Shares & Deposits | 283,550,020 |
| TOTAL SHARES & DEPOSITS | 570,848,981 |
| TOTAL LIABILITIES | 591,313,635 |
| Regular Reserve | 0 |
| Other Reserves | 7,110,591 |
| Undivided Earnings | 85,201,193 |
| TOTAL EQUITY | 92,311,784 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 683,625,419 |
| INCOME & EXPENSE | |
| Loan Income | 29,785,074 |
| Investment Income | 7,394,847 |
| Other Income | 6,422,912 |
| Total Employee Compensation & Benefits | 19,616,114 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,795,071 |
| Non-operating Income & (Expense) | 512,683 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,876,558 |
| Cost of Funds | 7,069,084 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,900,670 |
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