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ADVANTAGE FEDERAL CREDIT UNION

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.


ABA Routing Number: 222382292
Name:ADVANTAGE FEDERAL CREDIT UNION
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
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

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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