Dec, 31, 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 |
| 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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