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National Credit Union Service Organization

ADVENTURE CREDIT UNION

Dec, 31, 2023 — ADVENTURE CREDIT UNION is a federally insured state chartered credit union headquartered in GRAND RAPIDS, MI with 8 branch locations and about $434.89 million in total assets. Opened 88 years ago in 1936, ADVENTURE CREDIT UNION has about 31,594 members and employs 115 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: 272480432
Name:ADVENTURE CREDIT UNION
Address:
(Main Office)
630 32nd St SE
GRAND RAPIDS, MI 49548-2306
Phone:(616) 243-0125
Fax:(616) 514-1828
Website:https://www.adventurecu.org
Branches:8 branch locations
Members:31,594
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60936
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$434,891,084
CEO/Manager:Amanda M Garabedian
Chairperson:Pete J Winninger

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 38,935,206
TOTAL INVESTMENTS 0
Loans Held for Sale 285,000
 
 Real Estate Loans 174,346,764
 Unsecured Loans 15,116,856
 Other Loans 107,910,427
 TOTAL LOANS 297,374,047
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,669,487
 Land And Building 6,526,297
 Other Fixed Assets 1,268,572
 NCUSIF Deposit 3,625,342
 All Other Assets 0
  TOTAL ASSETS 434,891,084
LIABILITIES & CAPITAL:  
 Dividends Payable 287,615
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,160,476
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 85,042,876
 Regular shares 140,972,289
 All Other Shares & Deposits 145,732,370
  TOTAL SHARES & DEPOSITS 371,747,537
  TOTAL LIABILITIES 376,195,628
 Regular Reserve 0
 Other Reserves -2,817,583
 Undivided Earnings 61,513,039
  TOTAL EQUITY 58,695,456
  TOTAL LIABILITIES, SHARES, & EQUITY 434,891,084
INCOME & EXPENSE  
 Loan Income 16,892,988
 Investment Income 2,464,497
 Other Income 2,578,859
 Total Employee Compensation & Benefits 8,632,309
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 8,984,323
 Non-operating Income & (Expense) 497,328
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,684,116
 Cost of Funds 3,213,900
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,716,970
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