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ELEVATE FEDERAL CREDIT UNION

Sep, 30, 2022 — ELEVATE FEDERAL CREDIT UNION is a federal credit union headquartered in BRIGHAM CITY, UT with 3 branch locations and about $201.74 million in total assets. Opened 69 years ago in 1954, ELEVATE FEDERAL CREDIT UNION has about 13,970 members and employs 42 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ELEVATE FEDERAL CREDIT UNION
Address:
(Main Office)
1023 Medical Dr
BRIGHAM CITY, UT 84302-3049
Phone:(435) 723-3437
Fax:(435) 723-8424
Website:https://www.elevatecu.com
Branches:3 branch locations
Members:13,970
Credit Union Type:Federal Credit Union
Charter Number:9163
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1954
Last Audited:Mar 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$201,739,590
CEO/Manager:Scott Webre
Chairperson:Blake Broadheaad

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,706,831
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 39,913,396
 Unsecured Loans 4,375,906
 Other Loans 78,446,468
 TOTAL LOANS 122,735,770
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -182,725
 Land And Building 5,684,425
 Other Fixed Assets 374,583
 NCUSIF Deposit 1,493,725
 All Other Assets 5,446
  TOTAL ASSETS 201,739,590
LIABILITIES & CAPITAL:  
 Dividends Payable 9,236
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 586,486
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 32,044,688
 Regular shares 83,361,353
 All Other Shares & Deposits 45,129,452
  TOTAL SHARES & DEPOSITS 160,535,493
  TOTAL LIABILITIES 161,131,215
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 40,608,375
  TOTAL EQUITY 40,608,375
  TOTAL LIABILITIES, SHARES, & EQUITY 201,739,590
INCOME & EXPENSE  
 Loan Income 3,475,330
 Investment Income 896,091
 Other Income 588,102
 Total Employee Compensation & Benefits 2,026,023
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,549,605
 Non-operating Income & (Expense) 200
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 14,808
 Cost of Funds 274,824
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,529,562
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