Dec, 31, 2020 — PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in MOBILE, AL with 1 branch location and about $6.21 million in total assets. Opened 65 years ago in 1956, PROGRESSIVE FEDERAL CREDIT UNION has about 705 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PROGRESSIVE FEDERAL CREDIT UNION |
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Address: (Main Office) | 1065 SPRING HILL AVE MOBILE, AL 36604 |
Phone: | (251) 338-2092 |
Fax: | (251) 338-2095 |
Website: | http://www.progressivefcu.com |
Branches: | 1 branch locations |
Members: | 705 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 11422 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1956 |
Last Audited: | Jun 01, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $6,212,883 |
CEO/Manager: | Thalia R Crosby |
Chairperson: | Eugene Williams |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,339,054 |
TOTAL INVESTMENTS | 2,577,788 |
Loans Held for Sale | 0 |
Real Estate Loans | 123,778 |
Unsecured Loans | 150,675 |
Other Loans | 1,843,784 |
TOTAL LOANS | 2,118,237 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -69,380 |
Land And Building | 194,828 |
Other Fixed Assets | 6,779 |
NCUSIF Deposit | 44,317 |
All Other Assets | 1,260 |
TOTAL ASSETS | 6,212,883 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 10,668 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 527,109 |
Regular shares | 4,383,174 |
All Other Shares & Deposits | 168,981 |
TOTAL SHARES & DEPOSITS | 5,079,264 |
TOTAL LIABILITIES | 5,089,933 |
Regular Reserve | 433,360 |
Other Reserves | 0 |
Undivided Earnings | 689,590 |
TOTAL EQUITY | 1,122,950 |
TOTAL LIABILITIES, SHARES, & EQUITY | 6,212,883 |
INCOME & EXPENSE | |
Loan Income | 145,634 |
Investment Income | 57,276 |
Other Income | 45,975 |
Total Employee Compensation & Benefits | 93,126 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 163,507 |
Non-operating Income & (Expense) | 3,629 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 12,034 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -16,153 |
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