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.
Name: | DESERET FIRST FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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