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OHIO'S FIRST CLASS CREDIT UNION

Dec, 31, 2023 — OHIO'S FIRST CLASS CREDIT UNION is a non-federally insured state credit union headquartered in Cleveland, OH with 2 branch locations and about $56.44 million in total assets. Opened 2024 years ago in 0, OHIO'S FIRST CLASS CREDIT UNION has about 9,909 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:OHIO'S FIRST CLASS CREDIT UNION
Address:
(Main Office)
P.O. Box 5877
Cleveland, OH 44101-0877
Phone:(216) 241-1088
Fax:(216) 241-3213
Website:https://www.ofccu.com
Branches:2 branch locations
Members:9,909
Credit Union Type:Non-Federally Insured State Credit Union
Charter Number:96682
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:0
Last Audited:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$56,442,223
CEO/Manager:Jeffrey J Spada
Chairperson:Daniel Rupp

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,608,888
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 425,022
 Unsecured Loans 6,176,543
 Other Loans 20,947,535
 TOTAL LOANS 27,549,100
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -276,197
 Land And Building 736,487
 Other Fixed Assets 119,857
 NCUSIF Deposit 0
 All Other Assets 0
  TOTAL ASSETS 56,442,223
LIABILITIES & CAPITAL:  
 Dividends Payable 6,489
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 376,827
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,334,069
 Regular shares 37,845,873
 All Other Shares & Deposits 3,941,074
  TOTAL SHARES & DEPOSITS 50,121,016
  TOTAL LIABILITIES 50,504,332
 Regular Reserve 0
 Other Reserves -228,192
 Undivided Earnings 6,166,083
  TOTAL EQUITY 5,937,891
  TOTAL LIABILITIES, SHARES, & EQUITY 56,442,223
INCOME & EXPENSE  
 Loan Income 1,151,811
 Investment Income 237,888
 Other Income 539,835
 Total Employee Compensation & Benefits 801,832
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,488,880
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 158,000
 Cost of Funds 75,899
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -193,783
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