FIRST CHOICE CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.firstchoicecu.com for more information.
Dec, 31, 2023 — FIRST CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in Ottawa, IL with 1 branch location and about $13.25 million in total assets. Opened 71 years ago in 1953, FIRST CHOICE CREDIT UNION has about 1,466 members and employs 4 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 CHOICE CREDIT UNION |
|---|---|
| Address: (Main Office) | 311 E Joliet St. Ottawa, IL 61350-2211 |
| Phone: | (815) 434-5860 |
| Fax: | (815) 434-5925 |
| Website: | https://www.firstchoicecu.com |
| Branches: | 1 branch locations |
| Members: | 1,466 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61471 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Sep 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $13,247,938 |
| CEO/Manager: | Diane M Johnson |
| Chairperson: | Thomas Ganiere |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,126,985 |
| TOTAL INVESTMENTS | 2,081,935 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 374,885 |
| Unsecured Loans | 552,268 |
| Other Loans | 1,714,435 |
| TOTAL LOANS | 2,641,588 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -18,389 |
| Land And Building | 249,563 |
| Other Fixed Assets | 23,937 |
| NCUSIF Deposit | 104,536 |
| All Other Assets | 37,783 |
| TOTAL ASSETS | 13,247,938 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 775 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 26,897 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,924,285 |
| Regular shares | 8,100,364 |
| All Other Shares & Deposits | 1,023,889 |
| TOTAL SHARES & DEPOSITS | 12,048,538 |
| TOTAL LIABILITIES | 12,076,210 |
| Regular Reserve | 328,816 |
| Other Reserves | 0 |
| Undivided Earnings | 842,912 |
| TOTAL EQUITY | 1,171,728 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 13,247,938 |
| INCOME & EXPENSE | |
| Loan Income | 130,071 |
| Investment Income | 61,458 |
| Other Income | 191,350 |
| Total Employee Compensation & Benefits | 199,558 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 259,378 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,592 |
| Cost of Funds | 8,761 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -95,410 |
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