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SECURED ADVANTAGE FEDERAL CREDIT UNION

Jun, 30, 2021 — SECURED ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in Simpsonville, SC with 3 branch locations and about $81.36 million in total assets. Opened 62 years ago in 1959, SECURED ADVANTAGE FEDERAL CREDIT UNION has about 8,242 members and employs 18 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:8,242
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:$81,360,260
CEO/Manager:Michal Parker
Chairperson:Allen Gilstrap

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,641,617
TOTAL INVESTMENTS 34,570,379
Loans Held for Sale 0
 
 Real Estate Loans 4,311,254
 Unsecured Loans 5,982,465
 Other Loans 20,377,904
 TOTAL LOANS 32,091,386
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -141,448
 Land And Building 1,746,273
 Other Fixed Assets 419,305
 NCUSIF Deposit 665,959
 All Other Assets 1,366,789
  TOTAL ASSETS 81,360,260
LIABILITIES & CAPITAL:  
 Dividends Payable 7,650
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 30,245
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,388,198
 Regular shares 24,007,505
 All Other Shares & Deposits 40,298,145
  TOTAL SHARES & DEPOSITS 72,693,848
  TOTAL LIABILITIES 72,731,743
 Regular Reserve 2,093,244
 Other Reserves -6,730
 Undivided Earnings 6,542,003
  TOTAL EQUITY 8,628,517
  TOTAL LIABILITIES, SHARES, & EQUITY 81,360,260
INCOME & EXPENSE  
 Loan Income 690,292
 Investment Income 254,749
 Other Income 187,869
 Total Employee Compensation & Benefits 620,878
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 952,153
 Non-operating Income & (Expense) 102,507
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,500
 Cost of Funds 76,012
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -269,598
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