Dec, 31, 2023 — FLAGSHIP COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in PORT HURON, MI with 2 branch locations and about $35.19 million in total assets. Opened 65 years ago in 1959, FLAGSHIP COMMUNITY FEDERAL CREDIT UNION has about 3,625 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FLAGSHIP COMMUNITY FEDERAL CREDIT UNION |
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Address: (Main Office) | 3910 Lapeer Rd PORT HURON, MI 48060-2402 |
Phone: | (810) 982-8575 |
Fax: | (810) 982-8260 |
Website: | https://www.flagship.org |
Branches: | 2 branch locations |
Members: | 3,625 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 13391 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $35,188,362 |
CEO/Manager: | Steven P Scandalito |
Chairperson: | Russell Anglebrandt |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,092,148 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 10,582,494 |
Unsecured Loans | 1,003,372 |
Other Loans | 8,182,813 |
TOTAL LOANS | 19,768,679 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -81,778 |
Land And Building | 158,692 |
Other Fixed Assets | 39,853 |
NCUSIF Deposit | 348,771 |
All Other Assets | 20,898 |
TOTAL ASSETS | 35,188,362 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 114,425 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 48,722 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,558,350 |
Regular shares | 16,370,363 |
All Other Shares & Deposits | 9,962,338 |
TOTAL SHARES & DEPOSITS | 31,891,051 |
TOTAL LIABILITIES | 32,054,198 |
Regular Reserve | 0 |
Other Reserves | 1,827,526 |
Undivided Earnings | 1,306,638 |
TOTAL EQUITY | 3,134,164 |
TOTAL LIABILITIES, SHARES, & EQUITY | 35,188,362 |
INCOME & EXPENSE | |
Loan Income | 1,009,704 |
Investment Income | 446,203 |
Other Income | 98,201 |
Total Employee Compensation & Benefits | 589,873 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 660,305 |
Non-operating Income & (Expense) | 131,904 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 152,906 |
Cost of Funds | 91,396 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 191,532 |
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