Dec, 31, 2023 — ADVANTAGE CREDIT UNION is a federally insured state chartered credit union headquartered in NEWTON, IA with 1 branch location and about $129.04 million in total assets. Opened 87 years ago in 1937, ADVANTAGE CREDIT UNION has about 7,131 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ADVANTAGE CREDIT UNION |
|---|---|
| Address: (Main Office) | 121 W 3rd St N NEWTON, IA 50208-3040 |
| Phone: | (641) 792-5660 |
| Fax: | (641) 792-0240 |
| Website: | https://www.acuiowa.org |
| Branches: | 1 branch locations |
| Members: | 7,131 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64030 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $129,037,567 |
| CEO/Manager: | Leslie Brickman |
| Chairperson: | Kimberly Clark |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,653,455 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,452,131 |
| Unsecured Loans | 3,433,024 |
| Other Loans | 57,957,687 |
| TOTAL LOANS | 79,895,835 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,466,439 |
| Land And Building | 1,968,261 |
| Other Fixed Assets | 344,695 |
| NCUSIF Deposit | 1,071,082 |
| All Other Assets | 0 |
| TOTAL ASSETS | 129,037,567 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 899,067 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,548,391 |
| Regular shares | 40,400,387 |
| All Other Shares & Deposits | 56,592,480 |
| TOTAL SHARES & DEPOSITS | 112,541,258 |
| TOTAL LIABILITIES | 113,440,325 |
| Regular Reserve | 0 |
| Other Reserves | 2,521,465 |
| Undivided Earnings | 13,075,777 |
| TOTAL EQUITY | 15,597,242 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 129,037,567 |
| INCOME & EXPENSE | |
| Loan Income | 5,512,143 |
| Investment Income | 1,730,293 |
| Other Income | 405,598 |
| Total Employee Compensation & Benefits | 1,587,761 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,032,362 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,860,777 |
| Cost of Funds | 2,109,232 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 820,801 |
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