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ELEVATE FEDERAL CREDIT UNION

Dec, 31, 2021 — ELEVATE FEDERAL CREDIT UNION is a federal credit union headquartered in BRIGHAM CITY, UT with 3 branch locations and about $195.16 million in total assets. Opened 68 years ago in 1954, ELEVATE FEDERAL CREDIT UNION has about 13,531 members and employs 44 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:http://www.elevatecu.com
Branches:3 branch locations
Members:13,531
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$195,158,974
CEO/Manager:Scott Webre
Chairperson:Sid Forsgren

Call Report

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  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,138,723
TOTAL INVESTMENTS 75,026,276
Loans Held for Sale 0
 
 Real Estate Loans 29,527,564
 Unsecured Loans 4,210,236
 Other Loans 71,777,624
 TOTAL LOANS 105,515,424
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -231,725
 Land And Building 5,775,191
 Other Fixed Assets 441,294
 NCUSIF Deposit 1,469,428
 All Other Assets 2,024,363
  TOTAL ASSETS 195,158,974
LIABILITIES & CAPITAL:  
 Dividends Payable 10,077
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 354,817
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 30,148,559
 Regular shares 80,386,586
 All Other Shares & Deposits 46,180,122
  TOTAL SHARES & DEPOSITS 156,715,267
  TOTAL LIABILITIES 157,080,161
 Regular Reserve 1,200,222
 Other Reserves 0
 Undivided Earnings 36,878,591
  TOTAL EQUITY 38,078,813
  TOTAL LIABILITIES, SHARES, & EQUITY 195,158,974
INCOME & EXPENSE  
 Loan Income 4,140,098
 Investment Income 1,324,674
 Other Income 664,455
 Total Employee Compensation & Benefits 2,469,980
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,199,376
 Non-operating Income & (Expense) 200
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 65,005
 Cost of Funds 435,491
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,690,028
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