Dec, 31, 2023 — FAMILY ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in SPRING HILL, TN with 3 branch locations and about $85.95 million in total assets. Opened 27 years ago in 1997, FAMILY ADVANTAGE FEDERAL CREDIT UNION has about 7,377 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FAMILY ADVANTAGE FEDERAL CREDIT UNION |
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Address: (Main Office) | 100 Town Center Pkwy SPRING HILL, TN 37174 |
Phone: | (931) 486-3125 |
Fax: | (931) 486-3137 |
Website: | https://www.myfafcu.org |
Branches: | 3 branch locations |
Members: | 7,377 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24603 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1997 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $85,954,568 |
CEO/Manager: | John H Kenley, IV |
Chairperson: | Mike Herron |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,978,556 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,325,194 |
Unsecured Loans | 5,047,868 |
Other Loans | 39,628,194 |
TOTAL LOANS | 52,001,256 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -423,661 |
Land And Building | 2,513,266 |
Other Fixed Assets | 577,535 |
NCUSIF Deposit | 658,705 |
All Other Assets | 0 |
TOTAL ASSETS | 85,954,568 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | -304,721 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 16,902,114 |
Regular shares | 43,443,579 |
All Other Shares & Deposits | 16,063,283 |
TOTAL SHARES & DEPOSITS | 76,408,976 |
TOTAL LIABILITIES | 76,104,255 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 9,850,313 |
TOTAL EQUITY | 9,850,313 |
TOTAL LIABILITIES, SHARES, & EQUITY | 85,954,568 |
INCOME & EXPENSE | |
Loan Income | 2,810,744 |
Investment Income | 1,034,078 |
Other Income | 588,334 |
Total Employee Compensation & Benefits | 1,273,227 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,828,639 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 539,953 |
Cost of Funds | 99,254 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 986,628 |
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