| MANAGERS REPORT 2024 ANNUAL SHAREHOLDERS MEETING | |||
| 2022 | 2023 | ||
| Total Personal Active Loans | 102 / $1,122,799.04 | 105 / $1,248,977.99 | difference 3 more/ $126,178.95 more |
| Total Investments | $722,144.35 | $362,301.89 | |
| Total Shares | $1,694,135.66 | $1,447,278.72 | difference $246,856.94 less |
| Total Assets & Liabilities | $1,864,696.25 | $1,627,996.29 | difference $236,699.96 less |
| Total Membership | 408 | 401 | 7 less members |
| Total Loans for year | 38 / $583,462.91 | 35 / $588,095.35 | difference 1 less / $64,484.67 more |
| Total Income | $76,979.16 | $85,141.67 | $8,162.51 more |
| Total Expenses | $70,404.97 | $73,256.60 | $2,851.63 more |
| Net Income | $635.91 | $7,071.16 | $6,435.25 more |
| Dividend Paid for Year | $5,938.26 | $4,813.91 | $1,124.35 less |
| Undivided Earnings | $144,468.66 | $152,045.31 | $7,576.65 more |
| Total Loans since Organization | 3,983 / $18,211,460.52 | 4,018 / $18,799,555.87 | 35 / $588,095.35 more |
- Board of Directors
| Chairman: | Ray Taylor 3-1-22 to 2-29-24 |
| Vice Chairman: | Harold Bostick 3-1-23 to 2-28-25 |
| Secretary: | Aubery Adams 3-1-23 to 2-28-25 |
| Membership: | Alan Myrick 3-1-22 to 2-29-24 |
| Treasurer: | Justin Gatlin 3-1-23 to 2-28-25 |
| Director: | Mark Smith 3-1-23 to 2-28-25 |
| Director: | David Parks 3-1-22 to 2-29-24 |
| 54th Annual Shareholders Meeting Managers Report | ||||||||||
| 2023 Annual Balance Sheet and Statement of Income and Expense | ||||||||||
| American Baptist Association Credit Union | ||||||||||
| Year ended December 31 | 2023 | 2022 | 2021 | |||||||
| Operating activities | ||||||||||
| Total Income | $85,141.67 | $76,979.16 | $74,191.31 | |||||||
| Total Operating Expenses | $73,256.60 | $70,404.97 | $68,037.58 | |||||||
| Dividends Paid | $4,813.91 | $5,938.26 | $7,420.43 | |||||||
| Net Loss/Earnings | $7,071.16 | $635.91 | ($1,266.70) | |||||||
| Investing activities | ||||||||||
| Deposits with banks | $161,801.89 | $417,331.40 | $818,922.03 | |||||||
| Certificates of Deposit | $200,500.00 | $304,312.95 | $200,500.00 | |||||||
| NCUA | $16,941.36 | $20,117.03 | $19,820.43 | |||||||
| Total Personal Loans | $1,248,977.99 | (105) | $1,122,799.04 | (102) | $1,146,413.05 | (106) | ||||
| Less Allowance for Loan Loss | $12,489.77 | $11,227.99 | $11,464.13 | |||||||
| Total Assets | $1,627,996.29 | $1,864,696.25 | $2,183,583.20 | |||||||
| Liabilities | ||||||||||
| Total Shares | $1,447,278.72 | $1,694,135.66 | $2,011,703.00 | |||||||
| Undivided Earnings | $150,091.88 | $144,468.66 | $144,338.24 | |||||||
| Total Membership | 401 | 408 | 409 | |||||||
| Total Loans made | $588,095.35 | $583,462.91 | $572,000.59 | |||||||
| Total Loans made since Organization | $18,799,555.87 (4,018) | $18,211,460.52 (3,983) | $17,627997.61 (3,945) | |||||||