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FINANCIAL ADVANTAGE FEDERAL CREDIT UNION

Mar, 31, 2021 — FINANCIAL ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in Homestead, PA with 1 branch location and about $9.64 million in total assets. Opened 80 years ago in 1941, FINANCIAL ADVANTAGE FEDERAL CREDIT UNION has about 1,591 members and employs 3 full and part-time employees 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:1,591
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:$9,639,794
CEO/Manager:Helenann Kozminski
Chairperson:Art Dougherty

Call Report

  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,932,787
TOTAL INVESTMENTS 4,122,966
Loans Held for Sale 0
 
 Real Estate Loans 551,239
 Unsecured Loans 351,531
 Other Loans 539,722
 TOTAL LOANS 1,442,492
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,194
 Land And Building 52,128
 Other Fixed Assets 3,218
 NCUSIF Deposit 75,090
 All Other Assets 38,307
  TOTAL ASSETS 9,639,794
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 14,821
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 411,636
 Regular shares 6,530,203
 All Other Shares & Deposits 1,430,163
  TOTAL SHARES & DEPOSITS 8,372,002
  TOTAL LIABILITIES 8,386,823
 Regular Reserve 718,476
 Other Reserves 0
 Undivided Earnings 534,495
  TOTAL EQUITY 1,252,971
  TOTAL LIABILITIES, SHARES, & EQUITY 9,639,794
INCOME & EXPENSE  
 Loan Income 23,276
 Investment Income 16,337
 Other Income 369
 Total Employee Compensation & Benefits 23,693
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 29,432
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -15,000
 Cost of Funds 2,913
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,935
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