Credit Unions Chartered in the State of Michigan - 1202 Advantage One Credit Union

Loans - total loans grew $17.2 million, or 10.15% in 2023. Growth dollars were driven by indirect loans which grew $8.5 million (21.46%) and closed end home equity loans which grew $4.2 million (41.72%). Credit card loans grew $1.7 million (14.78%) and unsecured participation loans grew $1.5 million (22.28%). Loan growth was strong early in the year and intentionally throttled later in the year by liquidity constraints felt by the industry as a whole. Not including wages and benefits, 2023 loan expenses totaled $1.6 million.

Home banking and bill pay - Advantage One Credit Union has 2,096 online banking users and 982 bill pay users representing 67.42% and 5.47% of total members, respectively. the number of bill pay users increased by 32.17% in 2023. Not including wages and benefits, associated program expenses totaled $369,000 in 2023.

Debit cards - as of 12/31/2023, Advantage One Credit Union had 11,327 debit cards (up from 10,999 last year) representing 63% of the number of total members. the associated expense with the program in 2023, was $747,000, excluding wages and benefits.