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PROGRESSIVE FEDERAL CREDIT UNION

Sep, 30, 2022 — PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in MOBILE, AL with 1 branch location and about $6.64 million in total assets. Opened 67 years ago in 1956, PROGRESSIVE FEDERAL CREDIT UNION has about 688 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
Address:
(Main Office)
1065 Spring Hill Ave
MOBILE, AL 36604
Phone:(251) 338-2092
Fax:(251) 338-2095
Website:https://www.progressivefcu.com
Branches:1 branch locations
Members:688
Credit Union Type:Federal Credit Union
Charter Number:11422
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1956
Last Audited:Jun 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$6,640,987
CEO/Manager:Thalia R Crosby
Chairperson:Eugene Williams

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 579,933
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 78,858
 Unsecured Loans 201,230
 Other Loans 2,757,432
 TOTAL LOANS 3,037,520
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -66,696
 Land And Building 187,819
 Other Fixed Assets 6,017
 NCUSIF Deposit 55,123
 All Other Assets 0
  TOTAL ASSETS 6,640,987
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 17,590
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 445,977
 Regular shares 4,613,962
 All Other Shares & Deposits 431,180
  TOTAL SHARES & DEPOSITS 5,491,119
  TOTAL LIABILITIES 5,508,709
 Regular Reserve 0
 Other Reserves 433,360
 Undivided Earnings 698,918
  TOTAL EQUITY 1,132,278
  TOTAL LIABILITIES, SHARES, & EQUITY 6,640,987
INCOME & EXPENSE  
 Loan Income 145,410
 Investment Income 16,031
 Other Income 37,895
 Total Employee Compensation & Benefits 72,915
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 111,726
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 10,647
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 8,202
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