Dec, 31, 2022 — GRANITE FEDERAL CREDIT UNION is a federal credit union headquartered in SALT LAKE CITY, UT with 8 branch locations and about $737.12 million in total assets. Opened 37 years ago in 1986, GRANITE FEDERAL CREDIT UNION has about 32,784 members and employs 112 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: | 32,784 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $737,122,838 |
| CEO/Manager: | Mark L Young |
| Chairperson: | Donald O Johnson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,714,493 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 402,082,185 |
| Unsecured Loans | 9,444,561 |
| Other Loans | 153,598,643 |
| TOTAL LOANS | 565,125,389 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,417,271 |
| Land And Building | 5,224,555 |
| Other Fixed Assets | 2,092,509 |
| NCUSIF Deposit | 5,512,709 |
| All Other Assets | 0 |
| TOTAL ASSETS | 737,122,838 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 44,700,000 |
| Accounts Payable & Other Liabilities | 7,263,019 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 110,298,971 |
| Regular shares | 165,114,075 |
| All Other Shares & Deposits | 345,975,988 |
| TOTAL SHARES & DEPOSITS | 621,389,034 |
| TOTAL LIABILITIES | 673,352,053 |
| Regular Reserve | 0 |
| Other Reserves | -2,838,170 |
| Undivided Earnings | 66,608,955 |
| TOTAL EQUITY | 63,770,785 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 737,122,838 |
| INCOME & EXPENSE | |
| Loan Income | 14,000,459 |
| Investment Income | 2,822,369 |
| Other Income | 2,412,228 |
| Total Employee Compensation & Benefits | 6,852,063 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,140,716 |
| Non-operating Income & (Expense) | 775,316 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 1,997,234 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,361,622 |
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