Mar, 31, 2022 — DESERT RIVERS FEDERAL CREDIT UNION is a federal credit union headquartered in MOAB, UT with 4 branch locations and about $74.83 million in total assets. Opened 65 years ago in 1957, DESERT RIVERS FEDERAL CREDIT UNION has about 7,630 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DESERT RIVERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 725 N Main St MOAB, UT 84532-2132 |
| Phone: | (435) 259-6124 |
| Fax: | (435) 259-6123 |
| Website: | http://www.desertriverscu.com |
| Branches: | 4 branch locations |
| Members: | 7,630 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24918 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $74,834,546 |
| CEO/Manager: | Sam Crane |
| Chairperson: | Randy Martin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,024,683 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,808,366 |
| Unsecured Loans | 2,427,505 |
| Other Loans | 45,290,313 |
| TOTAL LOANS | 65,526,184 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -407,956 |
| Land And Building | 4,276,512 |
| Other Fixed Assets | 336,529 |
| NCUSIF Deposit | 566,193 |
| All Other Assets | 22,500 |
| TOTAL ASSETS | 74,834,546 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 2,500,000 |
| Accounts Payable & Other Liabilities | 85,781 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 1,400,000 |
| Share Drafts | 18,595,981 |
| Regular shares | 25,690,894 |
| All Other Shares & Deposits | 21,588,638 |
| TOTAL SHARES & DEPOSITS | 65,875,513 |
| TOTAL LIABILITIES | 69,861,294 |
| Regular Reserve | 0 |
| Other Reserves | 1,117,460 |
| Undivided Earnings | 3,855,792 |
| TOTAL EQUITY | 4,973,252 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 74,834,546 |
| INCOME & EXPENSE | |
| Loan Income | 914,803 |
| Investment Income | 5,278 |
| Other Income | 242,090 |
| Total Employee Compensation & Benefits | 482,225 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 430,978 |
| Non-operating Income & (Expense) | 551 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 55,931 |
| Cost of Funds | 65,472 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 297,922 |
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