Dec, 31, 2023 — AVANTI FEDERAL CREDIT UNION is a federal credit union headquartered in WATERTOWN, SD with 1 branch location and about $31.35 million in total assets. Opened 71 years ago in 1953, AVANTI FEDERAL CREDIT UNION has about 2,752 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | AVANTI FEDERAL CREDIT UNION |
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Address: (Main Office) | 1620 4th St NE WATERTOWN, SD 57201-8604 |
Phone: | (605) 882-2357 |
Fax: | (605) 882-4520 |
Website: | https://www.avantifcu.net |
Branches: | 1 branch locations |
Members: | 2,752 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8801 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Jul 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $31,347,397 |
CEO/Manager: | Judy Wolff |
Chairperson: | Todd West |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,800,321 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 3,387,565 |
Unsecured Loans | 2,297,885 |
Other Loans | 15,535,287 |
TOTAL LOANS | 21,220,737 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -122,017 |
Land And Building | 600,434 |
Other Fixed Assets | 21,431 |
NCUSIF Deposit | 260,068 |
All Other Assets | 6,019 |
TOTAL ASSETS | 31,347,397 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 46,388 |
Notes & Interest Payable | 1,300,000 |
Accounts Payable & Other Liabilities | 47,631 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,574,066 |
Regular shares | 13,568,171 |
All Other Shares & Deposits | 10,065,040 |
TOTAL SHARES & DEPOSITS | 27,207,277 |
TOTAL LIABILITIES | 28,601,296 |
Regular Reserve | 0 |
Other Reserves | 83,603 |
Undivided Earnings | 2,662,498 |
TOTAL EQUITY | 2,746,101 |
TOTAL LIABILITIES, SHARES, & EQUITY | 31,347,397 |
INCOME & EXPENSE | |
Loan Income | 1,207,447 |
Investment Income | 105,676 |
Other Income | 157,014 |
Total Employee Compensation & Benefits | 314,115 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 647,670 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,153 |
Cost of Funds | 376,137 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 140,411 |
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