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PEOPLES ADVANTAGE FEDERAL CREDIT UNION

Mar, 31, 2021 — PEOPLES ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in PETERSBURG, VA with 2 branch locations and about $90.66 million in total assets. Opened 55 years ago in 1966, PEOPLES ADVANTAGE FEDERAL CREDIT UNION has about 10,008 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:PEOPLES ADVANTAGE FEDERAL CREDIT UNION
Address:
(Main Office)
P O BOX 3180
PETERSBURG, VA 23805-9303
Phone:(804) 748-3081
Fax:(804) 748-5683
Website:http://peoplesadvfcu.org
Branches:2 branch locations
Members:10,008
Credit Union Type:Federal Credit Union
Charter Number:17464
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1966
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$90,662,104
CEO/Manager:Patsy Smith
Chairperson:Peter Poulton

Call Report

  • Credit Builder
  • Indirect Consumer Loans
  • Micro Consumer Loans
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,527,817
TOTAL INVESTMENTS 28,435,915
Loans Held for Sale 0
 
 Real Estate Loans 6,082,984
 Unsecured Loans 7,352,470
 Other Loans 27,305,326
 TOTAL LOANS 40,740,780
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -498,371
 Land And Building 4,110,364
 Other Fixed Assets 232,384
 NCUSIF Deposit 714,029
 All Other Assets 2,399,186
  TOTAL ASSETS 90,662,104
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -104,867
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 16,557,448
 Regular shares 44,149,982
 All Other Shares & Deposits 22,077,172
  TOTAL SHARES & DEPOSITS 82,784,602
  TOTAL LIABILITIES 82,679,735
 Regular Reserve 860,467
 Other Reserves -1,399,742
 Undivided Earnings 8,521,644
  TOTAL EQUITY 7,982,369
  TOTAL LIABILITIES, SHARES, & EQUITY 90,662,104
INCOME & EXPENSE  
 Loan Income 792,998
 Investment Income 42,025
 Other Income 313,723
 Total Employee Compensation & Benefits 453,529
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 635,787
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 7,981
 Cost of Funds 64,259
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 297,742
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