Dec, 31, 2023 — BLUE FLAME CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLOTTE, NC with 1 branch location and about $29.63 million in total assets. Opened 70 years ago in 1954, BLUE FLAME CREDIT UNION has about 2,996 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BLUE FLAME CREDIT UNION |
|---|---|
| Address: (Main Office) | 2000 Continental Blvd CHARLOTTE, NC 28273 |
| Phone: | (704) 523-0075 |
| Fax: | (704) 523-8906 |
| Website: | https://www.blueflamecu.org |
| Branches: | 1 branch locations |
| Members: | 2,996 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63519 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,629,531 |
| CEO/Manager: | Charles A Lowe |
| Chairperson: | Michael Dyches |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,041,853 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,476,475 |
| Unsecured Loans | 3,040,155 |
| Other Loans | 15,040,945 |
| TOTAL LOANS | 19,557,575 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -225,771 |
| Land And Building | 3,463,166 |
| Other Fixed Assets | 495,556 |
| NCUSIF Deposit | 253,706 |
| All Other Assets | 19,200 |
| TOTAL ASSETS | 29,629,531 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 267,157 |
| Accounts Payable & Other Liabilities | 285,665 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,190,113 |
| Regular shares | 10,223,335 |
| All Other Shares & Deposits | 10,105,621 |
| TOTAL SHARES & DEPOSITS | 24,519,070 |
| TOTAL LIABILITIES | 25,071,892 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 4,557,639 |
| TOTAL EQUITY | 4,557,639 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,629,531 |
| INCOME & EXPENSE | |
| Loan Income | 867,501 |
| Investment Income | 250,243 |
| Other Income | 50,226 |
| Total Employee Compensation & Benefits | 744,240 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,127,374 |
| Non-operating Income & (Expense) | 1,846 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 53,750 |
| Cost of Funds | 223,461 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -823,146 |
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