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SECURED ADVANTAGE FEDERAL CREDIT UNION

Mar, 31, 2021 — SECURED ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in Simpsonville, SC with 3 branch locations and about $81.87 million in total assets. Opened 62 years ago in 1959, SECURED ADVANTAGE FEDERAL CREDIT UNION has about 6,847 members and employs 20 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: 253279714
Name:SECURED ADVANTAGE FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 1539
Simpsonville, SC 29681
Phone:(800) 468-5153
Fax:(864) 967-1495
Website:http://www.securedadvantagefcu.com
Branches:3 branch locations
Members:6,847
Credit Union Type:Federal Credit Union
Charter Number:12877
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1959
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$81,869,200
CEO/Manager:Michal Parker
Chairperson:Allen Gilstrap

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 13,833,174
TOTAL INVESTMENTS 34,517,756
Loans Held for Sale 0
 
 Real Estate Loans 5,637,487
 Unsecured Loans 5,683,700
 Other Loans 18,176,036
 TOTAL LOANS 29,497,223
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -169,824
 Land And Building 1,758,349
 Other Fixed Assets 294,224
 NCUSIF Deposit 638,903
 All Other Assets 1,499,395
  TOTAL ASSETS 81,869,200
LIABILITIES & CAPITAL:  
 Dividends Payable 16,300
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -8,276
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,122,938
 Regular shares 23,892,029
 All Other Shares & Deposits 40,089,287
  TOTAL SHARES & DEPOSITS 73,104,254
  TOTAL LIABILITIES 73,112,278
 Regular Reserve 2,093,244
 Other Reserves -20,837
 Undivided Earnings 6,684,515
  TOTAL EQUITY 8,756,922
  TOTAL LIABILITIES, SHARES, & EQUITY 81,869,200
INCOME & EXPENSE  
 Loan Income 343,663
 Investment Income 131,981
 Other Income 87,528
 Total Employee Compensation & Benefits 306,860
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 464,134
 Non-operating Income & (Expense) 30,484
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -12,500
 Cost of Funds 37,857
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -126,889
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