Dec, 31, 2023 — ADVANCE FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in SCHERERVILLE, IN with 2 branch locations and about $128.76 million in total assets. Opened 87 years ago in 1937, ADVANCE FINANCIAL FEDERAL CREDIT UNION has about 8,507 members and employs 36 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ADVANCE FINANCIAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 31 W US Highway 30 SCHERERVILLE, IN 46375-2108 |
Phone: | (219) 392-3900 |
Fax: | (219) 392-3952 |
Website: | https://www.advancefcu.org |
Branches: | 2 branch locations |
Members: | 8,507 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24078 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1937 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $128,761,317 |
CEO/Manager: | Jerry Gomez |
Chairperson: | Janice A Vamos |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,401,975 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 31,557,671 |
Unsecured Loans | 597,440 |
Other Loans | 37,868,596 |
TOTAL LOANS | 70,023,707 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -286,550 |
Land And Building | 841,657 |
Other Fixed Assets | 154,217 |
NCUSIF Deposit | 1,165,567 |
All Other Assets | 0 |
TOTAL ASSETS | 128,761,317 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 29,061 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,814,917 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 13,874,423 |
Regular shares | 61,830,046 |
All Other Shares & Deposits | 41,179,881 |
TOTAL SHARES & DEPOSITS | 116,884,350 |
TOTAL LIABILITIES | 118,729,973 |
Regular Reserve | 0 |
Other Reserves | -5,719,988 |
Undivided Earnings | 15,751,332 |
TOTAL EQUITY | 10,031,344 |
TOTAL LIABILITIES, SHARES, & EQUITY | 128,761,317 |
INCOME & EXPENSE | |
Loan Income | 2,996,833 |
Investment Income | 1,031,564 |
Other Income | 836,281 |
Total Employee Compensation & Benefits | 2,651,277 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,939,716 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -82,236 |
Cost of Funds | 495,072 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 264,828 |
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