Dec, 31, 2023 — ALLEGACY FEDERAL CREDIT UNION is a federal credit union headquartered in WINSTON SALEM, NC with 28 branch locations and about $2.24 billion in total assets. Opened 57 years ago in 1967, ALLEGACY FEDERAL CREDIT UNION has about 173,626 members and employs 404 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALLEGACY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1691 Westbrook Plaza Dr WINSTON SALEM, NC 27103-2993 |
| Phone: | (336) 774-3400 |
| Fax: | (336) 774-4994 |
| Website: | https://www.allegacy.org |
| Branches: | 28 branch locations |
| Members: | 173,626 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24438 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,241,143,070 |
| CEO/Manager: | Nathanael Tarwasokono |
| Chairperson: | Lisa Marshall |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 173,472,438 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 234,950 |
| Real Estate Loans | 1,078,657,452 |
| Unsecured Loans | 70,267,195 |
| Other Loans | 630,148,271 |
| TOTAL LOANS | 1,779,072,918 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -16,902,757 |
| Land And Building | 29,753,654 |
| Other Fixed Assets | 20,706,685 |
| NCUSIF Deposit | 16,992,936 |
| All Other Assets | 466,088 |
| TOTAL ASSETS | 2,241,143,070 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 17,514 |
| Notes & Interest Payable | 71,041,667 |
| Accounts Payable & Other Liabilities | 40,469,728 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 439,343,270 |
| Regular shares | 524,518,201 |
| All Other Shares & Deposits | 921,064,900 |
| TOTAL SHARES & DEPOSITS | 1,884,926,371 |
| TOTAL LIABILITIES | 1,996,765,553 |
| Regular Reserve | 0 |
| Other Reserves | -2,816,187 |
| Undivided Earnings | 247,193,704 |
| TOTAL EQUITY | 244,377,517 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,241,143,070 |
| INCOME & EXPENSE | |
| Loan Income | 90,927,068 |
| Investment Income | 16,122,148 |
| Other Income | 30,707,555 |
| Total Employee Compensation & Benefits | 50,785,323 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 41,818,744 |
| Non-operating Income & (Expense) | 33,135 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,904,476 |
| Cost of Funds | 29,302,448 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 24,386,390 |
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