Dec, 31, 2023 — CREDIT UNION ADVANTAGE is a federally insured state chartered credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $29.19 million in total assets. Opened 55 years ago in 1969, CREDIT UNION ADVANTAGE has about 2,228 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CREDIT UNION ADVANTAGE |
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Address: (Main Office) | 22250 Providence Dr SOUTHFIELD, MI 48075-4825 |
Phone: | (248) 996-6070 |
Fax: | (248) 849-5391 |
Website: | https://cuadvantage.coop |
Branches: | 1 branch locations |
Members: | 2,228 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62517 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1969 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $29,191,456 |
CEO/Manager: | Janice Zuchowicz |
Chairperson: | Michele Ciokajlo |
ASSETS: | $ Amount |
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Cash & Equivalents | 373,783 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,356,910 |
Unsecured Loans | 2,314,481 |
Other Loans | 4,046,977 |
TOTAL LOANS | 8,718,368 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -109,065 |
Land And Building | 0 |
Other Fixed Assets | 86,806 |
NCUSIF Deposit | 259,183 |
All Other Assets | 0 |
TOTAL ASSETS | 29,191,456 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 54,312 |
Accounts Payable & Other Liabilities | 504,858 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,075,098 |
Regular shares | 8,903,099 |
All Other Shares & Deposits | 10,549,444 |
TOTAL SHARES & DEPOSITS | 26,527,641 |
TOTAL LIABILITIES | 27,086,811 |
Regular Reserve | 0 |
Other Reserves | -1,411,302 |
Undivided Earnings | 3,515,947 |
TOTAL EQUITY | 2,104,645 |
TOTAL LIABILITIES, SHARES, & EQUITY | 29,191,456 |
INCOME & EXPENSE | |
Loan Income | 487,882 |
Investment Income | 306,040 |
Other Income | 344,330 |
Total Employee Compensation & Benefits | 437,598 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 807,611 |
Non-operating Income & (Expense) | 38,815 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,902 |
Cost of Funds | 183,970 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -183,236 |
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