Jun, 30, 2024 — ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in ROCHESTER, NY with 8 branch locations and about $458.05 million in total assets. Opened 50 years ago in 1975, ADVANTAGE FEDERAL CREDIT UNION has about 39,715 members and employs 101 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: | 8 branch locations |
Members: | 39,715 |
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, 2021 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $458,047,628 |
CEO/Manager: | Jeff Bocach |
Chairperson: | Tom Yale |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,275,369 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 136,322,731 |
Unsecured Loans | 41,246,759 |
Other Loans | 143,920,402 |
TOTAL LOANS | 321,489,892 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,632,778 |
Land And Building | 4,594,810 |
Other Fixed Assets | 2,025,504 |
NCUSIF Deposit | 2,970,793 |
All Other Assets | 2,200 |
TOTAL ASSETS | 458,047,628 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 46,164 |
Notes & Interest Payable | 59,610,000 |
Accounts Payable & Other Liabilities | 6,175,807 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 110,246,736 |
Regular shares | 122,380,469 |
All Other Shares & Deposits | 137,873,412 |
TOTAL SHARES & DEPOSITS | 370,500,617 |
TOTAL LIABILITIES | 436,332,588 |
Regular Reserve | 0 |
Other Reserves | -18,276,301 |
Undivided Earnings | 39,991,341 |
TOTAL EQUITY | 21,715,040 |
TOTAL LIABILITIES, SHARES, & EQUITY | 458,047,628 |
INCOME & EXPENSE | |
Loan Income | 9,372,958 |
Investment Income | 1,645,105 |
Other Income | 2,600,679 |
Total Employee Compensation & Benefits | 6,341,728 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,760,232 |
Non-operating Income & (Expense) | 900 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 1,471,020 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,476,604 |
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