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ADVANTAGE FINANCIAL FEDERAL CREDIT UNION

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.


ABA Routing Number: 254075470
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

Call Report

  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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