Jun, 30, 2024 — 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 70 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 |
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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 |
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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 |
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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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