Dec, 31, 2023 — FIRST COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in JAMESTOWN, ND with 26 branch locations and about $1.32 billion in total assets. Opened 85 years ago in 1939, FIRST COMMUNITY CREDIT UNION has about 46,484 members and employs 245 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 COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 310 10th St SE JAMESTOWN, ND 58401-5555 |
| Phone: | (701) 252-0360 |
| Fax: | |
| Website: | https://www.myfccu.com |
| Branches: | 26 branch locations |
| Members: | 46,484 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60103 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,317,300,438 |
| CEO/Manager: | Stephen Schmitz |
| Chairperson: | Owen Olson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 74,617,506 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,635,340 |
| Real Estate Loans | 624,891,080 |
| Unsecured Loans | 23,357,018 |
| Other Loans | 299,185,205 |
| TOTAL LOANS | 949,631,300 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,857,296 |
| Land And Building | 35,383,972 |
| Other Fixed Assets | 4,930,209 |
| NCUSIF Deposit | 8,949,995 |
| All Other Assets | 341,623 |
| TOTAL ASSETS | 1,317,300,438 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,371,795 |
| Notes & Interest Payable | 145,000,000 |
| Accounts Payable & Other Liabilities | 9,583,353 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 338,871,045 |
| Regular shares | 203,024,078 |
| All Other Shares & Deposits | 477,469,410 |
| TOTAL SHARES & DEPOSITS | 1,019,364,531 |
| TOTAL LIABILITIES | 1,179,371,527 |
| Regular Reserve | 0 |
| Other Reserves | -4,067,387 |
| Undivided Earnings | 141,996,298 |
| TOTAL EQUITY | 137,928,911 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,317,300,438 |
| INCOME & EXPENSE | |
| Loan Income | 45,280,583 |
| Investment Income | 5,976,238 |
| Other Income | 5,606,732 |
| Total Employee Compensation & Benefits | 22,877,265 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 15,613,604 |
| Non-operating Income & (Expense) | 136,924 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 730,000 |
| Cost of Funds | 16,173,620 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,588,802 |
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