Dec, 31, 2023 — ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in ROCHESTER, NY with 7 branch locations and about $496.30 million in total assets. Opened 49 years ago in 1975, ADVANTAGE FEDERAL CREDIT UNION has about 35,429 members and employs 102 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 FEDERAL CREDIT UNION |
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Address: (Main Office) | 70 Metro Park ROCHESTER, NY 14623 |
Phone: | (585) 454-5900 |
Fax: | |
Website: | https://www.advantagefcu.org |
Branches: | 7 branch locations |
Members: | 35,429 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24181 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1975 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $496,302,038 |
CEO/Manager: | Jeff Bocach |
Chairperson: | Tom Yale |
ASSETS: | $ Amount |
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Cash & Equivalents | 11,881,487 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 147,318,728 |
Unsecured Loans | 49,062,680 |
Other Loans | 153,332,290 |
TOTAL LOANS | 349,713,699 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,270,630 |
Land And Building | 4,427,031 |
Other Fixed Assets | 1,736,614 |
NCUSIF Deposit | 3,587,345 |
All Other Assets | 34,000 |
TOTAL ASSETS | 496,302,038 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 443,782 |
Notes & Interest Payable | 95,166,623 |
Accounts Payable & Other Liabilities | 5,159,640 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 100,007,912 |
Regular shares | 127,025,666 |
All Other Shares & Deposits | 142,028,111 |
TOTAL SHARES & DEPOSITS | 369,061,689 |
TOTAL LIABILITIES | 469,831,734 |
Regular Reserve | 0 |
Other Reserves | -15,351,256 |
Undivided Earnings | 41,821,560 |
TOTAL EQUITY | 26,470,304 |
TOTAL LIABILITIES, SHARES, & EQUITY | 496,302,038 |
INCOME & EXPENSE | |
Loan Income | 18,427,342 |
Investment Income | 3,203,994 |
Other Income | 3,281,887 |
Total Employee Compensation & Benefits | 8,764,854 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,556,811 |
Non-operating Income & (Expense) | 2,000 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,790,000 |
Cost of Funds | 7,303,849 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,280,915 |
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