Dec, 31, 2023 — ELEVATE FEDERAL CREDIT UNION is a federal credit union headquartered in BRIGHAM CITY, UT with 3 branch locations and about $215.78 million in total assets. Opened 70 years ago in 1954, ELEVATE FEDERAL CREDIT UNION has about 14,487 members and employs 46 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: | 14,487 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $215,775,002 |
| CEO/Manager: | Scott Webre |
| Chairperson: | Blake Broadheaad |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,462,299 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 39,718,789 |
| Unsecured Loans | 5,311,463 |
| Other Loans | 88,033,667 |
| TOTAL LOANS | 133,063,919 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -338,352 |
| Land And Building | 5,533,148 |
| Other Fixed Assets | 489,366 |
| NCUSIF Deposit | 1,562,335 |
| All Other Assets | 0 |
| TOTAL ASSETS | 215,775,002 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 137,506 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 394,239 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,180,997 |
| Regular shares | 62,116,887 |
| All Other Shares & Deposits | 80,406,554 |
| TOTAL SHARES & DEPOSITS | 170,704,438 |
| TOTAL LIABILITIES | 171,236,761 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 44,538,241 |
| TOTAL EQUITY | 44,538,241 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 215,775,002 |
| INCOME & EXPENSE | |
| Loan Income | 6,087,294 |
| Investment Income | 1,905,775 |
| Other Income | 775,413 |
| Total Employee Compensation & Benefits | 2,908,378 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,135,171 |
| Non-operating Income & (Expense) | 1,450 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 209,301 |
| Cost of Funds | 2,292,626 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,225,009 |
| ↑ Back to Top | |