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1ST ADVANTAGE FEDERAL CREDIT UNION

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.


ABA Routing Number: 251480563
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

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • In-School Branches
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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