Dec, 31, 2023 — FIRST COMMERCE CREDIT UNION is a federally insured state chartered credit union headquartered in TALLAHASSEE, FL with 14 branch locations and about $1.07 billion in total assets. Opened 84 years ago in 1940, FIRST COMMERCE CREDIT UNION has about 64,572 members and employs 205 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST COMMERCE CREDIT UNION |
|---|---|
| Address: (Main Office) | 2073 Summit Lake Dr Ste 100 TALLAHASSEE, FL 32317 |
| Phone: | (850) 488-0035 |
| Fax: | (850) 921-2061 |
| Website: | https://www.firstcommercecu.org |
| Branches: | 14 branch locations |
| Members: | 64,572 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68301 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,069,625,272 |
| CEO/Manager: | Cecilia Homison |
| Chairperson: | Alan Neubauer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 135,562,758 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 338,618,960 |
| Unsecured Loans | 15,304,094 |
| Other Loans | 397,020,172 |
| TOTAL LOANS | 750,943,227 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,180,374 |
| Land And Building | 35,426,422 |
| Other Fixed Assets | 3,019,194 |
| NCUSIF Deposit | 8,281,043 |
| All Other Assets | 335,823 |
| TOTAL ASSETS | 1,069,625,272 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 47,690 |
| Notes & Interest Payable | 55,633,333 |
| Accounts Payable & Other Liabilities | 16,550,965 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 15,000,000 |
| Share Drafts | 246,949,146 |
| Regular shares | 195,368,158 |
| All Other Shares & Deposits | 462,714,207 |
| TOTAL SHARES & DEPOSITS | 905,031,510 |
| TOTAL LIABILITIES | 992,291,737 |
| Regular Reserve | 0 |
| Other Reserves | -17,637,899 |
| Undivided Earnings | 94,971,434 |
| TOTAL EQUITY | 77,333,535 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,069,625,272 |
| INCOME & EXPENSE | |
| Loan Income | 37,878,240 |
| Investment Income | 7,381,997 |
| Other Income | 7,108,076 |
| Total Employee Compensation & Benefits | 16,458,092 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 19,916,664 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,069,929 |
| Cost of Funds | 15,625,273 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,886,979 |
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