Dec, 31, 2023 — DESERT RIVERS FEDERAL CREDIT UNION is a federal credit union headquartered in MOAB, UT with 4 branch locations and about $97.17 million in total assets. Opened 67 years ago in 1957, DESERT RIVERS FEDERAL CREDIT UNION has about 7,396 members and employs 31 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: | https://www.desertriverscu.com |
| Branches: | 4 branch locations |
| Members: | 7,396 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $97,169,403 |
| CEO/Manager: | Sam Crane |
| Chairperson: | Randy Martin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,872,356 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,750,014 |
| Unsecured Loans | 3,298,967 |
| Other Loans | 52,863,396 |
| TOTAL LOANS | 80,912,377 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,181,779 |
| Land And Building | 4,462,353 |
| Other Fixed Assets | 360,187 |
| NCUSIF Deposit | 892,587 |
| All Other Assets | 0 |
| TOTAL ASSETS | 97,169,403 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 103,207 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 1,400,000 |
| Share Drafts | 17,772,734 |
| Regular shares | 25,431,357 |
| All Other Shares & Deposits | 46,206,843 |
| TOTAL SHARES & DEPOSITS | 89,410,934 |
| TOTAL LIABILITIES | 90,914,141 |
| Regular Reserve | 0 |
| Other Reserves | 1,117,460 |
| Undivided Earnings | 5,137,802 |
| TOTAL EQUITY | 6,255,262 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 97,169,403 |
| INCOME & EXPENSE | |
| Loan Income | 5,714,191 |
| Investment Income | 411,748 |
| Other Income | 1,008,994 |
| Total Employee Compensation & Benefits | 2,208,629 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,971,807 |
| Non-operating Income & (Expense) | 2,398 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,139,423 |
| Cost of Funds | 1,886,547 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 516,381 |
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