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ADVANCE FINANCIAL FEDERAL CREDIT UNION

Mar, 31, 2021 — ADVANCE FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in SCHERERVILLE, IN with 2 branch locations and about $140.44 million in total assets. Opened 84 years ago in 1937, ADVANCE FINANCIAL FEDERAL CREDIT UNION has about 10,394 members and employs 39 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: 271990473
Name:ADVANCE FINANCIAL FEDERAL CREDIT UNION
Address:
(Main Office)
31 W US HIGHWAY 30
SCHERERVILLE, IN 46375-2108
Phone:(219) 392-3900
Fax:(219) 392-3952
Website:http://advancefcu.org
Branches:2 branch locations
Members:10,394
Credit Union Type:Federal Credit Union
Charter Number:24078
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1937
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$140,443,022
CEO/Manager:Jerry Gomez
Chairperson:Janice A Vamos

Call Report

  • Indirect Consumer Loans
  • Indirect Mortgage Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,085,341
TOTAL INVESTMENTS 43,536,472
Loans Held for Sale 0
 
 Real Estate Loans 34,557,510
 Unsecured Loans 522,804
 Other Loans 36,520,453
 TOTAL LOANS 71,600,767
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -422,294
 Land And Building 696,684
 Other Fixed Assets 288,457
 NCUSIF Deposit 1,180,850
 All Other Assets 11,476,745
  TOTAL ASSETS 140,443,022
LIABILITIES & CAPITAL:  
 Dividends Payable 8,774
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,289,262
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 14,410,629
 Regular shares 66,849,670
 All Other Shares & Deposits 44,824,297
  TOTAL SHARES & DEPOSITS 126,084,596
  TOTAL LIABILITIES 128,382,632
 Regular Reserve 3,454,071
 Other Reserves -1,652,419
 Undivided Earnings 10,258,738
  TOTAL EQUITY 12,060,390
  TOTAL LIABILITIES, SHARES, & EQUITY 140,443,022
INCOME & EXPENSE  
 Loan Income 693,802
 Investment Income 199,839
 Other Income 200,673
 Total Employee Compensation & Benefits 609,757
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 451,332
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -96,129
 Cost of Funds 64,177
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 69,380
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