Dec, 31, 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 |
| 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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