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 |
| 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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