Dec, 31, 2020 — 1ST ADVANTAGE FEDERAL CREDIT UNION is a federal credit union headquartered in Newport News, VA with 13 branch locations and about $851.02 million in total assets. Opened 70 years ago in 1951, 1ST ADVANTAGE FEDERAL CREDIT UNION has about 66,357 members and employs 227 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) | PO Box 2116 Newport News, VA 23609-0116 |
| Phone: | (757) 877-2444 |
| Fax: | (757) 886-3314 |
| Website: | http://www.1stadvantage.org |
| Branches: | 13 branch locations |
| Members: | 66,357 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $851,023,199 |
| CEO/Manager: | Paul W Muse |
| Chairperson: | Tom O Cameron |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 173,750,475 |
| TOTAL INVESTMENTS | 86,496,977 |
| Loans Held for Sale | 1,232,168 |
| Real Estate Loans | 232,050,086 |
| Unsecured Loans | 53,371,631 |
| Other Loans | 277,852,632 |
| TOTAL LOANS | 564,114,070 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,873,170 |
| Land And Building | 13,648,439 |
| Other Fixed Assets | 3,288,030 |
| NCUSIF Deposit | 6,907,815 |
| All Other Assets | 7,458,395 |
| TOTAL ASSETS | 851,023,199 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 13,467,849 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 181,091,911 |
| Regular shares | 281,537,981 |
| All Other Shares & Deposits | 280,115,348 |
| TOTAL SHARES & DEPOSITS | 742,745,240 |
| TOTAL LIABILITIES | 756,213,089 |
| Regular Reserve | 8,824,404 |
| Other Reserves | 3,316,401 |
| Undivided Earnings | 82,669,305 |
| TOTAL EQUITY | 94,810,110 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 851,023,199 |
| INCOME & EXPENSE | |
| Loan Income | 28,569,647 |
| Investment Income | 1,256,250 |
| Other Income | 11,336,984 |
| Total Employee Compensation & Benefits | 16,633,035 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,778,829 |
| Non-operating Income & (Expense) | -95,758 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,969,830 |
| Cost of Funds | 3,519,781 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,165,648 |
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