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FINANCIAL ADVANTAGE FEDERAL CREDIT UNION

Mar, 31, 2022 — FINANCIAL ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in Homestead, PA with 1 branch location and about $8.90 million in total assets. Opened 81 years ago in 1941, FINANCIAL ADVANTAGE FEDERAL CREDIT UNION has about 1,481 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FINANCIAL ADVANTAGE FEDERAL CREDIT UNION
Address:
(Main Office)
300 E 8th Ave
Homestead, PA 15120
Phone:(412) 461-5100
Fax:(412) 461-7005
Website:http://www.financialadvantagecu.com
Branches:1 branch locations
Members:1,481
Credit Union Type:Federal Credit Union
Charter Number:4517
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1941
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$8,900,678
CEO/Manager:Helenann Kozminski
Chairperson:Art Dougherty

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,409,937
TOTAL INVESTMENTS 4,118,966
Loans Held for Sale 0
 
 Real Estate Loans 454,290
 Unsecured Loans 320,774
 Other Loans 453,026
 TOTAL LOANS 1,228,090
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -15,437
 Land And Building 50,670
 Other Fixed Assets 2,152
 NCUSIF Deposit 80,113
 All Other Assets 26,187
  TOTAL ASSETS 8,900,678
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 548
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 392,730
 Regular shares 5,874,039
 All Other Shares & Deposits 1,410,650
  TOTAL SHARES & DEPOSITS 7,677,419
  TOTAL LIABILITIES 7,677,967
 Regular Reserve 718,476
 Other Reserves 0
 Undivided Earnings 504,235
  TOTAL EQUITY 1,222,711
  TOTAL LIABILITIES, SHARES, & EQUITY 8,900,678
INCOME & EXPENSE  
 Loan Income 86,082
 Investment Income 41,565
 Other Income 2,429
 Total Employee Compensation & Benefits 91,143
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 118,067
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -25,000
 Cost of Funds 10,455
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -64,589
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