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GRANITE FEDERAL CREDIT UNION

Mar, 31, 2022 — GRANITE FEDERAL CREDIT UNION is a federal credit union headquartered in SALT LAKE CITY, UT with 8 branch locations and about $714.33 million in total assets. Opened 36 years ago in 1986, GRANITE FEDERAL CREDIT UNION has about 31,177 members and employs 109 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: 324078721
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:http://www.granite.org
Branches:8 branch locations
Members:31,177
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:$714,326,933
CEO/Manager:Mark L Young
Chairperson:Donald O Johnson

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,014,294
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 372,120,422
 Unsecured Loans 9,002,104
 Other Loans 110,968,007
 TOTAL LOANS 492,090,533
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,516,332
 Land And Building 5,369,116
 Other Fixed Assets 2,083,254
 NCUSIF Deposit 5,338,159
 All Other Assets 0
  TOTAL ASSETS 714,326,933
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 17,950,000
 Accounts Payable & Other Liabilities 6,535,776
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 113,651,247
 Regular shares 168,542,441
 All Other Shares & Deposits 338,405,025
  TOTAL SHARES & DEPOSITS 620,598,713
  TOTAL LIABILITIES 645,084,489
 Regular Reserve 0
 Other Reserves 7,046,949
 Undivided Earnings 62,195,495
  TOTAL EQUITY 69,242,444
  TOTAL LIABILITIES, SHARES, & EQUITY 714,326,933
INCOME & EXPENSE  
 Loan Income 4,138,187
 Investment Income 962,497
 Other Income 860,127
 Total Employee Compensation & Benefits 2,216,356
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,949,413
 Non-operating Income & (Expense) 794,836
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 442,899
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,948,160
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