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DESERT FINANCIAL CREDIT UNION

Mar, 31, 2021 — DESERT FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in Phoenix, AZ with 48 branch locations and about $7.25 billion in total assets. Opened 82 years ago in 1939, DESERT FINANCIAL CREDIT UNION has about 358,888 members and employs 1,165 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: 122187238
Name:DESERT FINANCIAL CREDIT UNION
Address:
(Main Office)
148 N 48th St
Phoenix, AZ 85034
Phone:(602) 433-7000
Fax:
Website:http://www.desertfinancial.com
Branches:48 branch locations
Members:358,888
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$7,251,302,260
CEO/Manager:Jeffrey D Meshey
Chairperson:Laura A Watson

Call Report

  • Commercial Loans
  • Indirect Commercial Loans
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 890,602,769
TOTAL INVESTMENTS 3,703,237,536
Loans Held for Sale 24,667,269
 
 Real Estate Loans 1,219,594,908
 Unsecured Loans 64,395,175
 Other Loans 1,087,475,713
 TOTAL LOANS 2,375,109,423
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,956,884
 Land And Building 57,493,144
 Other Fixed Assets 14,527,017
 NCUSIF Deposit 47,666,274
 All Other Assets 163,955,712
  TOTAL ASSETS 7,251,302,260
LIABILITIES & CAPITAL:  
 Dividends Payable 3,750,000
 Notes & Interest Payable 205,250,833
 Accounts Payable & Other Liabilities 76,009,201
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,519,211,522
 Regular shares 1,475,395,836
 All Other Shares & Deposits 3,236,043,832
  TOTAL SHARES & DEPOSITS 6,230,651,190
  TOTAL LIABILITIES 6,515,661,224
 Regular Reserve 29,788,065
 Other Reserves 1,297,036
 Undivided Earnings 704,555,935
  TOTAL EQUITY 735,641,036
  TOTAL LIABILITIES, SHARES, & EQUITY 7,251,302,260
INCOME & EXPENSE  
 Loan Income 22,350,920
 Investment Income 15,004,867
 Other Income 7,626,630
 Total Employee Compensation & Benefits 32,039,675
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,238,944
 Non-operating Income & (Expense) 385,906
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -234,441
 Cost of Funds 7,736,745
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 13,832,540
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