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DESERET FIRST FEDERAL CREDIT UNION

Jun, 30, 2023 — DESERET FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in WEST VALLEY CITY, UT with 12 branch locations and about $963.45 million in total assets. Opened 69 years ago in 1955, DESERET FIRST FEDERAL CREDIT UNION has about 74,385 members and employs 210 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: 324078909
Name:DESERET FIRST FEDERAL CREDIT UNION
Address:
(Main Office)
3999 W Parkway Blvd
WEST VALLEY CITY, UT 84120
Phone:(801) 456-7000
Fax:(801) 364-6747
Website:https://www.dfcu.com
Branches:12 branch locations
Members:74,385
Credit Union Type:Federal Credit Union
Charter Number:24708
Membership Type:Multiple common bond - Primarily faith based
Corporate Credit Union:No
Year Opened:1955
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$963,445,843
CEO/Manager:Shane C London
Chairperson:Vance K Huntley

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 38,689,586
TOTAL INVESTMENTS 0
Loans Held for Sale 2,011,896
 
 Real Estate Loans 594,116,456
 Unsecured Loans 27,230,620
 Other Loans 233,365,939
 TOTAL LOANS 854,713,015
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,596,822
 Land And Building 30,179,997
 Other Fixed Assets 3,495,231
 NCUSIF Deposit 7,961,936
 All Other Assets 0
  TOTAL ASSETS 963,445,843
LIABILITIES & CAPITAL:  
 Dividends Payable 188,688
 Notes & Interest Payable 30,000,000
 Accounts Payable & Other Liabilities 11,793,315
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 273,234,511
 Regular shares 357,379,690
 All Other Shares & Deposits 218,879,868
  TOTAL SHARES & DEPOSITS 849,494,069
  TOTAL LIABILITIES 891,476,072
 Regular Reserve 0
 Other Reserves 14,129,957
 Undivided Earnings 57,839,814
  TOTAL EQUITY 71,969,771
  TOTAL LIABILITIES, SHARES, & EQUITY 963,445,843
INCOME & EXPENSE  
 Loan Income 22,912,091
 Investment Income 963,081
 Other Income 6,004,609
 Total Employee Compensation & Benefits 14,410,344
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 11,267,061
 Non-operating Income & (Expense) -65
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 139,815
 Cost of Funds 2,109,633
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 6,406,546
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