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SHARE ADVANTAGE CREDIT UNION

Dec, 31, 2023 — SHARE ADVANTAGE CREDIT UNION is a federally insured state chartered credit union headquartered in DULUTH, MN with 2 branch locations and about $54.82 million in total assets. Opened 98 years ago in 1926, SHARE ADVANTAGE CREDIT UNION has about 3,914 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 291973645
Name:SHARE ADVANTAGE CREDIT UNION
Address:
(Main Office)
2502 Maple Grove Rd
DULUTH, MN 55811-1864
Phone:(218) 740-2221
Fax:(218) 740-3080
Website:https://www.myshareadvantage.com
Branches:2 branch locations
Members:3,914
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60242
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1926
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$54,824,074
CEO/Manager:Kellee L Lueck Schafer
Chairperson:Scott Nigon

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,462,160
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 24,636,882
 Unsecured Loans 935,693
 Other Loans 10,459,751
 TOTAL LOANS 36,032,326
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -287,567
 Land And Building 742,280
 Other Fixed Assets 98,564
 NCUSIF Deposit 526,763
 All Other Assets 0
  TOTAL ASSETS 54,824,074
LIABILITIES & CAPITAL:  
 Dividends Payable 17,469
 Notes & Interest Payable 500,000
 Accounts Payable & Other Liabilities 822,655
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,937,624
 Regular shares 29,896,286
 All Other Shares & Deposits 8,482,325
  TOTAL SHARES & DEPOSITS 48,316,235
  TOTAL LIABILITIES 49,656,359
 Regular Reserve 0
 Other Reserves -192,070
 Undivided Earnings 5,359,785
  TOTAL EQUITY 5,167,715
  TOTAL LIABILITIES, SHARES, & EQUITY 54,824,074
INCOME & EXPENSE  
 Loan Income 1,670,133
 Investment Income 599,377
 Other Income 331,621
 Total Employee Compensation & Benefits 843,217
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 991,432
 Non-operating Income & (Expense) -50,300
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 349,567
 Cost of Funds 123,715
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 289,295
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