Overview / Commentary
Share Advantage Credit Union is headquartered in Duluth and is the 53rd largest credit union in the state of Minnesota. It is also the 2,341st largest credit union in the nation. It was established in 1926 and as of June of 2024, it had grown to 10 employees and 3,943 members at 2 locations. Share Advantage Credit Union's CD rates are 11% higher than the national average, and it has a B health rating.
Field of Membership Restrictions
Membership is open to those who live, work or attend school in Minnesota's St. Louis and Carlton counties.
See current membership details
Health
B
Data as of Q2 2024
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Share Advantage Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 60242 |
| Year Chartered | 1926 |
| Employees | 10 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.04% |
| Return on Equity - YTD | 10.71% |
| Annual Interest Income | $1.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $56.6MM$58.6MM |
| Loans | Q2 2024vs Q2 2023 | $36.4MM$35.3MM |
| Deposits | Q2 2024vs Q2 2023 | $49.9MM$52.7MM |
| Equity Capital | Q2 2024vs Q2 2023 | $5.5MM$4.8MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $258K$252K |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $223K$263K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |