Dec, 31, 2023 — GRANITE FEDERAL CREDIT UNION is a federal credit union headquartered in SALT LAKE CITY, UT with 8 branch locations and about $803.67 million in total assets. Opened 38 years ago in 1986, GRANITE FEDERAL CREDIT UNION has about 35,115 members and employs 113 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GRANITE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3675 S 900 E SALT LAKE CITY, UT 84106 |
| Phone: | (801) 288-3000 |
| Fax: | (801) 288-3051 |
| Website: | https://www.granite.org |
| Branches: | 8 branch locations |
| Members: | 35,115 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24726 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1986 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $803,665,326 |
| CEO/Manager: | Mark L Young |
| Chairperson: | Donald O Johnson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,933,858 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 492,060,319 |
| Unsecured Loans | 10,938,040 |
| Other Loans | 152,965,316 |
| TOTAL LOANS | 655,963,675 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,159,723 |
| Land And Building | 7,524,539 |
| Other Fixed Assets | 2,744,058 |
| NCUSIF Deposit | 6,353,450 |
| All Other Assets | 0 |
| TOTAL ASSETS | 803,665,326 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,189 |
| Notes & Interest Payable | 40,600,000 |
| Accounts Payable & Other Liabilities | 9,330,901 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 100,662,129 |
| Regular shares | 123,656,254 |
| All Other Shares & Deposits | 459,319,640 |
| TOTAL SHARES & DEPOSITS | 683,638,023 |
| TOTAL LIABILITIES | 733,575,113 |
| Regular Reserve | 0 |
| Other Reserves | -796,761 |
| Undivided Earnings | 70,886,974 |
| TOTAL EQUITY | 70,090,213 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 803,665,326 |
| INCOME & EXPENSE | |
| Loan Income | 28,253,767 |
| Investment Income | 2,920,819 |
| Other Income | 2,852,563 |
| Total Employee Compensation & Benefits | 9,512,823 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,573,665 |
| Non-operating Income & (Expense) | 1,377,473 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,894,688 |
| Cost of Funds | 14,421,818 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,980,188 |
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