Dec, 31, 2020 — SPIRIT OF ALASKA FEDERAL CREDIT UNION is a federal credit union headquartered in Fairbanks, AK with 3 branch locations and about $184.81 million in total assets. Opened 61 years ago in 1960, SPIRIT OF ALASKA FEDERAL CREDIT UNION has about 9,151 members and employs 49 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SPIRIT OF ALASKA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1417 Gillam Way Fairbanks, AK 99701 |
| Phone: | (907) 459-5900 |
| Fax: | |
| Website: | http://www.spiritofak.com |
| Branches: | 3 branch locations |
| Members: | 9,151 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13583 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $184,806,387 |
| CEO/Manager: | Anthony L Rizk |
| Chairperson: | Charlie Sparks |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,809,232 |
| TOTAL INVESTMENTS | 45,917,585 |
| Loans Held for Sale | 566,949 |
| Real Estate Loans | 48,472,107 |
| Unsecured Loans | 2,599,370 |
| Other Loans | 48,089,379 |
| TOTAL LOANS | 99,160,856 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -497,759 |
| Land And Building | 6,709,537 |
| Other Fixed Assets | 326,285 |
| NCUSIF Deposit | 1,456,564 |
| All Other Assets | 5,357,138 |
| TOTAL ASSETS | 184,806,387 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,486 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,349,830 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 52,136,685 |
| Regular shares | 66,362,188 |
| All Other Shares & Deposits | 43,613,561 |
| TOTAL SHARES & DEPOSITS | 162,112,434 |
| TOTAL LIABILITIES | 163,472,750 |
| Regular Reserve | 1,538,343 |
| Other Reserves | 45,493 |
| Undivided Earnings | 19,749,801 |
| TOTAL EQUITY | 21,333,637 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 184,806,387 |
| INCOME & EXPENSE | |
| Loan Income | 5,834,333 |
| Investment Income | 602,139 |
| Other Income | 1,916,794 |
| Total Employee Compensation & Benefits | 3,748,387 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,412,776 |
| Non-operating Income & (Expense) | -163,902 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 280,000 |
| Cost of Funds | 531,288 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,216,913 |
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