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SECURED ADVANTAGE FEDERAL CREDIT UNION

Dec, 31, 2020 — SECURED ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in Simpsonville, SC with 3 branch locations and about $75.50 million in total assets. Opened 62 years ago in 1959, SECURED ADVANTAGE FEDERAL CREDIT UNION has about 6,893 members and employs 19 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:6,893
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:$75,504,722
CEO/Manager:Michal Parker
Chairperson:Paul Pyc

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,348,170
TOTAL INVESTMENTS 34,106,765
Loans Held for Sale 0
 
 Real Estate Loans 6,163,655
 Unsecured Loans 5,971,654
 Other Loans 17,923,921
 TOTAL LOANS 30,059,230
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -205,121
 Land And Building 1,771,377
 Other Fixed Assets 317,822
 NCUSIF Deposit 638,903
 All Other Assets 1,467,576
  TOTAL ASSETS 75,504,722
LIABILITIES & CAPITAL:  
 Dividends Payable 16,700
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -16,563
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,168,809
 Regular shares 21,619,709
 All Other Shares & Deposits 36,807,386
  TOTAL SHARES & DEPOSITS 66,595,904
  TOTAL LIABILITIES 66,596,041
 Regular Reserve 2,093,244
 Other Reserves 3,836
 Undivided Earnings 6,811,601
  TOTAL EQUITY 8,908,681
  TOTAL LIABILITIES, SHARES, & EQUITY 75,504,722
INCOME & EXPENSE  
 Loan Income 1,476,866
 Investment Income 664,604
 Other Income 626,593
 Total Employee Compensation & Benefits 1,180,184
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,740,556
 Non-operating Income & (Expense) 173,851
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 273,950
 Cost of Funds 208,814
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -461,590
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