Jun, 30, 2024 — AVANTI FEDERAL CREDIT UNION is a federal credit union headquartered in WATERTOWN, SD with 1 branch location and about $30.52 million in total assets. Opened 72 years ago in 1953, AVANTI FEDERAL CREDIT UNION has about 2,570 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AVANTI FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1620 4th St NE WATERTOWN, SD 57201-8604 |
| Phone: | (605) 882-2357 |
| Fax: | (605) 882-4520 |
| Website: | https://www.avantifcu.net |
| Branches: | 1 branch locations |
| Members: | 2,570 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8801 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jul 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $30,516,333 |
| CEO/Manager: | Judy Wolff |
| Chairperson: | Todd West |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,024,505 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,433,018 |
| Unsecured Loans | 1,997,047 |
| Other Loans | 10,851,029 |
| TOTAL LOANS | 15,281,094 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -82,201 |
| Land And Building | 610,399 |
| Other Fixed Assets | 23,663 |
| NCUSIF Deposit | 259,957 |
| All Other Assets | 0 |
| TOTAL ASSETS | 30,516,333 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 5,950 |
| Notes & Interest Payable | 200,000 |
| Accounts Payable & Other Liabilities | 53,933 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,206,895 |
| Regular shares | 17,397,258 |
| All Other Shares & Deposits | 7,048,355 |
| TOTAL SHARES & DEPOSITS | 27,652,508 |
| TOTAL LIABILITIES | 27,912,391 |
| Regular Reserve | 0 |
| Other Reserves | 83,603 |
| Undivided Earnings | 2,520,339 |
| TOTAL EQUITY | 2,603,942 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 30,516,333 |
| INCOME & EXPENSE | |
| Loan Income | 507,906 |
| Investment Income | 81,716 |
| Other Income | 112,903 |
| Total Employee Compensation & Benefits | 206,785 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 406,373 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,141 |
| Cost of Funds | 63,020 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 60,910 |
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