Dec, 31, 2021 — 1ST ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in YORKTOWN, VA with 13 branch locations and about $927.34 million in total assets. Opened 71 years ago in 1951, 1ST ADVANTAGE FEDERAL CREDIT UNION has about 69,552 members and employs 205 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | 1ST ADVANTAGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 110 Cybernetics Way YORKTOWN, VA 23693 |
| Phone: | (757) 877-2444 |
| Fax: | (757) 886-3314 |
| Website: | http://www.1stadvantage.org |
| Branches: | 13 branch locations |
| Members: | 69,552 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7448 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $927,339,498 |
| CEO/Manager: | Paul W Muse |
| Chairperson: | Sylvester McClellan |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 178,418,782 |
| TOTAL INVESTMENTS | 133,170,947 |
| Loans Held for Sale | 552,869 |
| Real Estate Loans | 252,907,552 |
| Unsecured Loans | 58,417,375 |
| Other Loans | 274,953,577 |
| TOTAL LOANS | 586,812,624 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,882,655 |
| Land And Building | 13,275,143 |
| Other Fixed Assets | 2,173,136 |
| NCUSIF Deposit | 7,748,792 |
| All Other Assets | 10,069,860 |
| TOTAL ASSETS | 927,339,498 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 128 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,374,324 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 190,768,806 |
| Regular shares | 328,810,875 |
| All Other Shares & Deposits | 291,064,714 |
| TOTAL SHARES & DEPOSITS | 810,644,395 |
| TOTAL LIABILITIES | 826,018,847 |
| Regular Reserve | 8,824,404 |
| Other Reserves | 2,549,822 |
| Undivided Earnings | 89,946,425 |
| TOTAL EQUITY | 101,320,651 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 927,339,498 |
| INCOME & EXPENSE | |
| Loan Income | 27,010,484 |
| Investment Income | 1,356,609 |
| Other Income | 6,001,445 |
| Total Employee Compensation & Benefits | 16,569,295 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,627,839 |
| Non-operating Income & (Expense) | 541,427 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 550,000 |
| Cost of Funds | 1,846,595 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,277,120 |
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