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DESERT RIVERS FEDERAL CREDIT UNION

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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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