Dec, 31, 2023 — AFFINITY CREDIT UNION is a federally insured state chartered credit union headquartered in DES MOINES, IA with 2 branch locations and about $142.20 million in total assets. Opened 75 years ago in 1949, AFFINITY CREDIT UNION has about 13,596 members and employs 37 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AFFINITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 475 NW Hoffman Ln DES MOINES, IA 50313-2261 |
| Phone: | (515) 288-7225 |
| Fax: | (515) 288-1806 |
| Website: | https://www.affinitycuia.org |
| Branches: | 2 branch locations |
| Members: | 13,596 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62829 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $142,200,243 |
| CEO/Manager: | Jeremy Smith |
| Chairperson: | Cindi Summers |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,981,524 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 41,613,163 |
| Unsecured Loans | 7,708,344 |
| Other Loans | 50,818,596 |
| TOTAL LOANS | 100,140,104 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,387,193 |
| Land And Building | 2,659,051 |
| Other Fixed Assets | 360,995 |
| NCUSIF Deposit | 1,277,882 |
| All Other Assets | 0 |
| TOTAL ASSETS | 142,200,243 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 112,010 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,970,111 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 29,135,062 |
| Regular shares | 56,636,599 |
| All Other Shares & Deposits | 38,726,687 |
| TOTAL SHARES & DEPOSITS | 124,498,346 |
| TOTAL LIABILITIES | 127,580,467 |
| Regular Reserve | 0 |
| Other Reserves | 4,104,255 |
| Undivided Earnings | 10,515,521 |
| TOTAL EQUITY | 14,619,776 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 142,200,243 |
| INCOME & EXPENSE | |
| Loan Income | 5,501,544 |
| Investment Income | 1,149,656 |
| Other Income | 1,107,987 |
| Total Employee Compensation & Benefits | 3,494,166 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,672,681 |
| Non-operating Income & (Expense) | 8,136 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 211,446 |
| Cost of Funds | 1,086,328 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,421,896 |
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