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FLORENCE FEDERAL CREDIT UNION

Dec, 31, 2020 — FLORENCE FEDERAL CREDIT UNION is a federal credit union headquartered in FLORENCE, AL with 3 branch locations and about $64.99 million in total assets. Opened 62 years ago in 1959, FLORENCE FEDERAL CREDIT UNION has about 3,666 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FLORENCE FEDERAL CREDIT UNION
Address:
(Main Office)
1505 N PINE ST, P.O. BOX 2817
FLORENCE, AL 35630-2285
Phone:(256) 767-4700
Fax:(256) 766-7414
Website:http://ffcuonline.com
Branches:3 branch locations
Members:3,666
Credit Union Type:Federal Credit Union
Charter Number:13167
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1959
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$64,990,280
CEO/Manager:Lisa Eckl
Chairperson:May Bolden

Call Report

  • Micro Consumer Loans
  • Overdraft Protection
  • Real Estate Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,700,604
TOTAL INVESTMENTS 35,004,937
Loans Held for Sale 0
 
 Real Estate Loans 14,518,100
 Unsecured Loans 1,909,038
 Other Loans 8,967,626
 TOTAL LOANS 25,394,764
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -147,017
 Land And Building 144,005
 Other Fixed Assets 77,525
 NCUSIF Deposit 473,847
 All Other Assets 341,615
  TOTAL ASSETS 64,990,280
LIABILITIES & CAPITAL:  
 Dividends Payable 5,596
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 975,326
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,104,554
 Regular shares 20,665,799
 All Other Shares & Deposits 27,924,943
  TOTAL SHARES & DEPOSITS 56,695,296
  TOTAL LIABILITIES 57,676,218
 Regular Reserve 1,107,218
 Other Reserves 86,865
 Undivided Earnings 6,119,979
  TOTAL EQUITY 7,314,062
  TOTAL LIABILITIES, SHARES, & EQUITY 64,990,280
INCOME & EXPENSE  
 Loan Income 1,425,605
 Investment Income 665,292
 Other Income 451,705
 Total Employee Compensation & Benefits 740,671
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 841,401
 Non-operating Income & (Expense) -8,851
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 97,907
 Cost of Funds 459,513
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 394,259
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