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National Credit Union Service Organization

ASCEND FEDERAL CREDIT UNION

Dec, 31, 2023 — ASCEND FEDERAL CREDIT UNION is a federal credit union headquartered in TULLAHOMA, TN with 27 branch locations and about $4.25 billion in total assets. Opened 73 years ago in 1951, ASCEND FEDERAL CREDIT UNION has about 236,616 members and employs 634 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 264181626
Name:ASCEND FEDERAL CREDIT UNION
Address:
(Main Office)
520 Airpark Dr
TULLAHOMA, TN 37388
Phone:(800) 342-3086
Fax:
Website:https://ascend.org
Branches:27 branch locations
Members:236,616
Credit Union Type:Federal Credit Union
Charter Number:7397
Membership Type:Multiple common bond - Primarily military
Corporate Credit Union:No
Year Opened:1951
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$4,253,690,104
CEO/Manager:Matthew Jernigan
Chairperson:Mark Rigney

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 298,188,776
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,524,963,489
 Unsecured Loans 181,364,472
 Other Loans 1,295,486,951
 TOTAL LOANS 3,001,814,913
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,176,510
 Land And Building 73,276,836
 Other Fixed Assets 20,526,765
 NCUSIF Deposit 30,079,125
 All Other Assets 2,197,800
  TOTAL ASSETS 4,253,690,104
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 327,800,000
 Accounts Payable & Other Liabilities 66,173,498
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 512,348,148
 Regular shares 1,071,885,266
 All Other Shares & Deposits 1,814,234,690
  TOTAL SHARES & DEPOSITS 3,398,468,104
  TOTAL LIABILITIES 3,792,441,602
 Regular Reserve 0
 Other Reserves -112,503,429
 Undivided Earnings 573,751,931
  TOTAL EQUITY 461,248,502
  TOTAL LIABILITIES, SHARES, & EQUITY 4,253,690,104
INCOME & EXPENSE  
 Loan Income 144,821,120
 Investment Income 29,398,642
 Other Income 27,246,133
 Total Employee Compensation & Benefits 52,453,419
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 55,532,787
 Non-operating Income & (Expense) 844,863
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,689,388
 Cost of Funds 67,149,012
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 37,513,594
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