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.
Name: | SHARE ADVANTAGE CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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