Dec, 31, 2023 — 1ST ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in YORKTOWN, VA with 13 branch locations and about $981.45 million in total assets. Opened 73 years ago in 1951, 1ST ADVANTAGE FEDERAL CREDIT UNION has about 70,136 members and employs 217 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 |
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Address: (Main Office) | 110 Cybernetics Way YORKTOWN, VA 23693 |
Phone: | (757) 877-2444 |
Fax: | (757) 886-3314 |
Website: | https://www.1stadvantage.org |
Branches: | 13 branch locations |
Members: | 70,136 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7448 |
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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, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $981,454,524 |
CEO/Manager: | Paul W Muse |
Chairperson: | Sylvester McClellan |
ASSETS: | $ Amount |
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Cash & Equivalents | 80,783,889 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 309,371,148 |
Unsecured Loans | 65,493,187 |
Other Loans | 291,846,770 |
TOTAL LOANS | 715,063,132 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,202,802 |
Land And Building | 12,734,817 |
Other Fixed Assets | 2,114,659 |
NCUSIF Deposit | 7,951,908 |
All Other Assets | 461,128 |
TOTAL ASSETS | 981,454,524 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 603 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 17,702,619 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 205,578,924 |
Regular shares | 299,653,880 |
All Other Shares & Deposits | 333,162,368 |
TOTAL SHARES & DEPOSITS | 838,395,171 |
TOTAL LIABILITIES | 856,098,393 |
Regular Reserve | 0 |
Other Reserves | -4,498,228 |
Undivided Earnings | 129,854,359 |
TOTAL EQUITY | 125,356,131 |
TOTAL LIABILITIES, SHARES, & EQUITY | 981,454,524 |
INCOME & EXPENSE | |
Loan Income | 39,918,689 |
Investment Income | 9,068,857 |
Other Income | 5,812,593 |
Total Employee Compensation & Benefits | 18,016,508 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 15,361,955 |
Non-operating Income & (Expense) | 24,288 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,569,476 |
Cost of Funds | 7,087,019 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 20,296,143 |
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