Dec, 31, 2023 — ABCO FEDERAL CREDIT UNION is a federal credit union headquartered in WILLINGBORO, NJ with 8 branch locations and about $246.81 million in total assets. Opened 66 years ago in 1958, ABCO FEDERAL CREDIT UNION has about 27,544 members and employs 75 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ABCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 621 Beverly Rancocas Rd Ste 1H WILLINGBORO, NJ 08046-3727 |
| Phone: | (800) 225-1859 |
| Fax: | (609) 877-3490 |
| Website: | https://www.abcofcu.org |
| Branches: | 8 branch locations |
| Members: | 27,544 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12679 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $246,806,392 |
| CEO/Manager: | Jill Peterson |
| Chairperson: | John C Agner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,286,159 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 67,141,076 |
| Unsecured Loans | 17,096,729 |
| Other Loans | 39,083,885 |
| TOTAL LOANS | 123,321,690 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,064,208 |
| Land And Building | 4,945,724 |
| Other Fixed Assets | 467,711 |
| NCUSIF Deposit | 2,356,587 |
| All Other Assets | 0 |
| TOTAL ASSETS | 246,806,392 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,160,000 |
| Accounts Payable & Other Liabilities | 210,691 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 51,829,600 |
| Regular shares | 103,979,962 |
| All Other Shares & Deposits | 72,430,990 |
| TOTAL SHARES & DEPOSITS | 228,240,552 |
| TOTAL LIABILITIES | 229,611,243 |
| Regular Reserve | 0 |
| Other Reserves | -307,425 |
| Undivided Earnings | 17,502,574 |
| TOTAL EQUITY | 17,195,149 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 246,806,392 |
| INCOME & EXPENSE | |
| Loan Income | 6,322,254 |
| Investment Income | 2,416,997 |
| Other Income | 2,954,121 |
| Total Employee Compensation & Benefits | 5,790,295 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,410,437 |
| Non-operating Income & (Expense) | 126,229 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 283,110 |
| Cost of Funds | 1,261,916 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 906,330 |
| ↑ Back to Top | |