Jun, 30, 2024 — CREDIT UNION ADVANTAGE is a federally insured state chartered credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $30.94 million in total assets. Opened 55 years ago in 1969, CREDIT UNION ADVANTAGE has about 2,353 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CREDIT UNION ADVANTAGE |
|---|---|
| Address: (Main Office) | 22250 Providence Dr SOUTHFIELD, MI 48075-4825 |
| Phone: | (248) 996-6070 |
| Fax: | (248) 849-5391 |
| Website: | https://cuadvantage.coop |
| Branches: | 1 branch locations |
| Members: | 2,353 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62517 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $30,944,308 |
| CEO/Manager: | Janice Zuchowicz |
| Chairperson: | Michele Ciokajlo |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 444,348 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,589,854 |
| Unsecured Loans | 2,059,048 |
| Other Loans | 3,988,142 |
| TOTAL LOANS | 8,637,044 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -94,082 |
| Land And Building | 0 |
| Other Fixed Assets | 110,860 |
| NCUSIF Deposit | 251,898 |
| All Other Assets | 27,000 |
| TOTAL ASSETS | 30,944,308 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 44,338 |
| Accounts Payable & Other Liabilities | 373,509 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,311,435 |
| Regular shares | 10,441,953 |
| All Other Shares & Deposits | 11,017,040 |
| TOTAL SHARES & DEPOSITS | 28,770,428 |
| TOTAL LIABILITIES | 29,188,275 |
| Regular Reserve | 0 |
| Other Reserves | -1,986,218 |
| Undivided Earnings | 3,742,251 |
| TOTAL EQUITY | 1,756,033 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 30,944,308 |
| INCOME & EXPENSE | |
| Loan Income | 321,252 |
| Investment Income | 252,590 |
| Other Income | 291,258 |
| Total Employee Compensation & Benefits | 292,391 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 639,113 |
| Non-operating Income & (Expense) | 104,710 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,000 |
| Cost of Funds | 39,633 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 97,625 |
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