Dec, 31, 2022 — ASCENT FEDERAL CREDIT UNION is a federal credit union headquartered in OGDEN, UT with 4 branch locations and about $173.65 million in total assets. Opened 66 years ago in 1957, ASCENT FEDERAL CREDIT UNION has about 9,221 members and employs 44 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ASCENT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4140 HARRISON BLVD OGDEN, UT 84403 |
| Phone: | (801) 399-9728 |
| Fax: | (801) 866-1051 |
| Website: | https://www.ascentcu.com |
| Branches: | 4 branch locations |
| Members: | 9,221 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11520 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $173,654,229 |
| CEO/Manager: | Brock R Mortensen |
| Chairperson: | Charles Ulrich |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 17,640,989 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 90,635,943 |
| Unsecured Loans | 5,678,939 |
| Other Loans | 37,563,745 |
| TOTAL LOANS | 133,878,627 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -313,067 |
| Land And Building | 3,675,268 |
| Other Fixed Assets | 382,738 |
| NCUSIF Deposit | 1,475,799 |
| All Other Assets | 0 |
| TOTAL ASSETS | 173,654,229 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 839,689 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,211,250 |
| Regular shares | 59,791,359 |
| All Other Shares & Deposits | 69,576,415 |
| TOTAL SHARES & DEPOSITS | 157,579,024 |
| TOTAL LIABILITIES | 158,418,713 |
| Regular Reserve | 0 |
| Other Reserves | 1,677,110 |
| Undivided Earnings | 13,558,406 |
| TOTAL EQUITY | 15,235,516 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 173,654,229 |
| INCOME & EXPENSE | |
| Loan Income | 3,870,035 |
| Investment Income | 254,667 |
| Other Income | 508,281 |
| Total Employee Compensation & Benefits | 2,258,708 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,880,120 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 80,000 |
| Cost of Funds | 379,905 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 973,400 |
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