Dec, 31, 2023 — FIRST CLASS COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in WEST DES MOINES, IA with 2 branch locations and about $93.40 million in total assets. Opened 99 years ago in 1925, FIRST CLASS COMMUNITY CREDIT UNION has about 7,428 members and employs 18 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 CLASS COMMUNITY CREDIT UNION |
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Address: (Main Office) | 2051 Westown Pkwy WEST DES MOINES, IA 50265-1541 |
Phone: | (515) 224-4300 |
Fax: | (515) 224-4306 |
Website: | https://www.gofirstclass.org |
Branches: | 2 branch locations |
Members: | 7,428 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 64231 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1925 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $93,403,291 |
CEO/Manager: | Zac Pollock |
Chairperson: | Gary Olson |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,259,085 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 13,689,419 |
Unsecured Loans | 1,322,379 |
Other Loans | 23,883,028 |
TOTAL LOANS | 38,928,013 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -407,890 |
Land And Building | 827,687 |
Other Fixed Assets | 155,005 |
NCUSIF Deposit | 900,991 |
All Other Assets | 0 |
TOTAL ASSETS | 93,403,291 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 6,521 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,071,451 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 26,123,459 |
Regular shares | 37,712,931 |
All Other Shares & Deposits | 22,366,804 |
TOTAL SHARES & DEPOSITS | 86,203,193 |
TOTAL LIABILITIES | 87,281,165 |
Regular Reserve | 0 |
Other Reserves | 281,407 |
Undivided Earnings | 5,840,719 |
TOTAL EQUITY | 6,122,126 |
TOTAL LIABILITIES, SHARES, & EQUITY | 93,403,291 |
INCOME & EXPENSE | |
Loan Income | 2,018,661 |
Investment Income | 724,935 |
Other Income | 791,475 |
Total Employee Compensation & Benefits | 1,344,149 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,367,750 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 157,150 |
Cost of Funds | 281,290 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 531,627 |
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