Dec, 31, 2023 — ADVANTAGE ONE CREDIT UNION is a federally insured state chartered credit union headquartered in BROWNSTOWN, MI with 3 branch locations and about $256.50 million in total assets. Opened 72 years ago in 1952, ADVANTAGE ONE CREDIT UNION has about 17,940 members and employs 57 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ADVANTAGE ONE CREDIT UNION |
|---|---|
| Address: (Main Office) | 23670 Telegraph Rd BROWNSTOWN, MI 48134 |
| Phone: | (734) 676-7000 |
| Fax: | (734) 676-3628 |
| Website: | https://www.myaocu.com/ |
| Branches: | 3 branch locations |
| Members: | 17,940 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68679 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Apr 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $256,495,930 |
| CEO/Manager: | Christopher D Corkery |
| Chairperson: | Richard E Lindemann |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,137,839 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 64,545,007 |
| Unsecured Loans | 29,009,407 |
| Other Loans | 92,831,028 |
| TOTAL LOANS | 186,569,555 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,400,675 |
| Land And Building | 3,383,272 |
| Other Fixed Assets | 865,897 |
| NCUSIF Deposit | 2,109,106 |
| All Other Assets | 0 |
| TOTAL ASSETS | 256,495,930 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 358,270 |
| Notes & Interest Payable | 13,500,000 |
| Accounts Payable & Other Liabilities | 1,148,859 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 42,943,614 |
| Regular shares | 97,795,281 |
| All Other Shares & Deposits | 80,930,242 |
| TOTAL SHARES & DEPOSITS | 221,669,137 |
| TOTAL LIABILITIES | 236,676,266 |
| Regular Reserve | 0 |
| Other Reserves | -3,698,445 |
| Undivided Earnings | 23,518,109 |
| TOTAL EQUITY | 19,819,664 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 256,495,930 |
| INCOME & EXPENSE | |
| Loan Income | 10,611,298 |
| Investment Income | 957,531 |
| Other Income | 2,076,697 |
| Total Employee Compensation & Benefits | 4,681,143 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,771,811 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 827,636 |
| Cost of Funds | 2,342,401 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,141,681 |
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