Dec, 31, 2023 — ADVANTAGE FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in WASHINGTON, DC with 5 branch locations and about $111.49 million in total assets. Opened 60 years ago in 1964, ADVANTAGE FINANCIAL FEDERAL CREDIT UNION has about 9,411 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ADVANTAGE FINANCIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1319 F St NW Ste 500 WASHINGTON, DC 20004-1146 |
| Phone: | (202) 737-6969 |
| Fax: | (202) 737-2992 |
| Website: | https://www.advfcu.org |
| Branches: | 5 branch locations |
| Members: | 9,411 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16416 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $111,490,997 |
| CEO/Manager: | Donald H Johnson |
| Chairperson: | DONALD WALSH |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,666,957 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 44,376,373 |
| Unsecured Loans | 9,389,592 |
| Other Loans | 8,487,460 |
| TOTAL LOANS | 62,253,425 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -377,173 |
| Land And Building | 0 |
| Other Fixed Assets | 100,836 |
| NCUSIF Deposit | 945,205 |
| All Other Assets | 0 |
| TOTAL ASSETS | 111,490,997 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,551,042 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,336,889 |
| Regular shares | 42,227,492 |
| All Other Shares & Deposits | 38,156,664 |
| TOTAL SHARES & DEPOSITS | 101,721,045 |
| TOTAL LIABILITIES | 103,272,087 |
| Regular Reserve | 0 |
| Other Reserves | -3,953,944 |
| Undivided Earnings | 12,172,854 |
| TOTAL EQUITY | 8,218,910 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 111,490,997 |
| INCOME & EXPENSE | |
| Loan Income | 3,120,687 |
| Investment Income | 1,149,989 |
| Other Income | 726,364 |
| Total Employee Compensation & Benefits | 2,039,395 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,777,421 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 353,548 |
| Cost of Funds | 350,841 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 72,386 |
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