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 |
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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 |
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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 |
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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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