Dec, 31, 2023 — DESERT FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in PHOENIX, AZ with 49 branch locations and about $8.71 billion in total assets. Opened 85 years ago in 1939, DESERT FINANCIAL CREDIT UNION has about 453,713 members and employs 1,248 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DESERT FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 148 N 48th St PHOENIX, AZ 85034 |
| Phone: | (602) 433-7000 |
| Fax: | |
| Website: | https://www.desertfinancial.com |
| Branches: | 49 branch locations |
| Members: | 453,713 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68713 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $8,710,563,794 |
| CEO/Manager: | Jeffrey D Meshey |
| Chairperson: | Kevin Haskew |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 668,767,954 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,108,555 |
| Real Estate Loans | 2,330,888,444 |
| Unsecured Loans | 71,399,000 |
| Other Loans | 1,614,427,459 |
| TOTAL LOANS | 4,018,418,099 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -38,134,123 |
| Land And Building | 62,356,877 |
| Other Fixed Assets | 11,147,458 |
| NCUSIF Deposit | 69,753,949 |
| All Other Assets | 1,392,346 |
| TOTAL ASSETS | 8,710,563,794 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 20,000,000 |
| Notes & Interest Payable | 600,000,000 |
| Accounts Payable & Other Liabilities | 176,275,597 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,720,915,971 |
| Regular shares | 1,592,417,362 |
| All Other Shares & Deposits | 3,990,471,139 |
| TOTAL SHARES & DEPOSITS | 7,303,804,472 |
| TOTAL LIABILITIES | 8,100,080,069 |
| Regular Reserve | 0 |
| Other Reserves | -349,586,968 |
| Undivided Earnings | 960,070,693 |
| TOTAL EQUITY | 610,483,725 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,710,563,794 |
| INCOME & EXPENSE | |
| Loan Income | 197,211,144 |
| Investment Income | 106,694,796 |
| Other Income | 47,849,877 |
| Total Employee Compensation & Benefits | 146,389,707 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 96,827,502 |
| Non-operating Income & (Expense) | 139,787 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,849,591 |
| Cost of Funds | 108,485,327 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 85,294,418 |
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