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PLATINUM FEDERAL CREDIT UNION

Dec, 31, 2023 — PLATINUM FEDERAL CREDIT UNION is a federal credit union headquartered in DULUTH, GA with 5 branch locations and about $280.74 million in total assets. Opened 25 years ago in 1999, PLATINUM FEDERAL CREDIT UNION has about 11,464 members and employs 56 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 061192274
Name:PLATINUM FEDERAL CREDIT UNION
Address:
(Main Office)
1815 Satellite Blvd Ste 200
DULUTH, GA 30097
Phone:(404) 297-9797
Fax:
Website:https://www.platinumfcu.org
Branches:5 branch locations
Members:11,464
Credit Union Type:Federal Credit Union
Charter Number:24631
Membership Type:Associational - Religious, other than those designated 'low-income'
Corporate Credit Union:No
Year Opened:1999
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$280,742,571
CEO/Manager:KABIR LAIWALLA
Chairperson:AMIN N PREMJEE

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 43,152,376
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 69,862,495
 Unsecured Loans 9,159,064
 Other Loans 119,615,938
 TOTAL LOANS 198,637,500
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -989,575
 Land And Building 5,263,964
 Other Fixed Assets 249,190
 NCUSIF Deposit 1,721,481
 All Other Assets 0
  TOTAL ASSETS 280,742,571
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,488,628
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 109,048,286
 Regular shares 49,639,706
 All Other Shares & Deposits 95,416,762
  TOTAL SHARES & DEPOSITS 254,104,754
  TOTAL LIABILITIES 255,593,382
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 25,149,189
  TOTAL EQUITY 25,149,189
  TOTAL LIABILITIES, SHARES, & EQUITY 280,742,571
INCOME & EXPENSE  
 Loan Income 8,353,568
 Investment Income 1,362,303
 Other Income 4,019,882
 Total Employee Compensation & Benefits 3,461,862
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,686,194
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 99,083
 Cost of Funds 2,867,171
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,978,678
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