As of the end of May 2015, the $613 million, 60,000-member Alabama One Credit Union has lost $2.7 million, according to a financial report that the credit union posted in its branches.
A member of the Tuscaloosa, Ala.-based credit union provided a copy of the report to CU Times.
According to the report, the credit union's net loss as of May 31 stood at negative $2,713,342. In comparison, income as of the end of May 2014 stood at positive $1,433,908, according to the credit union's report.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
