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PROGRESSIVE FEDERAL CREDIT UNION

Mar, 31, 2022 — PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in MOBILE, AL with 1 branch location and about $6.79 million in total assets. Opened 66 years ago in 1956, PROGRESSIVE FEDERAL CREDIT UNION has about 708 members 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:http://www.progressivefcu.com
Branches:1 branch locations
Members:708
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$6,793,682
CEO/Manager:Thalia R Crosby
Chairperson:Eugene Williams

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 973,431
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 94,515
 Unsecured Loans 214,579
 Other Loans 2,747,987
 TOTAL LOANS 3,057,081
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -70,359
 Land And Building 189,822
 Other Fixed Assets 4,931
 NCUSIF Deposit 50,793
 All Other Assets 0
  TOTAL ASSETS 6,793,682
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,933
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 396,267
 Regular shares 4,795,523
 All Other Shares & Deposits 461,434
  TOTAL SHARES & DEPOSITS 5,653,224
  TOTAL LIABILITIES 5,669,157
 Regular Reserve 0
 Other Reserves 433,360
 Undivided Earnings 691,165
  TOTAL EQUITY 1,124,525
  TOTAL LIABILITIES, SHARES, & EQUITY 6,793,682
INCOME & EXPENSE  
 Loan Income 49,463
 Investment Income 4,168
 Other Income 12,661
 Total Employee Compensation & Benefits 23,127
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 40,818
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 3,531
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 449
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