Dec, 31, 2023 — FLAGSHIP COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in PORT HURON, MI with 2 branch locations and about $35.19 million in total assets. Opened 65 years ago in 1959, FLAGSHIP COMMUNITY FEDERAL CREDIT UNION has about 3,625 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FLAGSHIP COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3910 Lapeer Rd PORT HURON, MI 48060-2402 |
| Phone: | (810) 982-8575 |
| Fax: | (810) 982-8260 |
| Website: | https://www.flagship.org |
| Branches: | 2 branch locations |
| Members: | 3,625 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13391 |
|---|---|
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $35,188,362 |
| CEO/Manager: | Steven P Scandalito |
| Chairperson: | Russell Anglebrandt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,092,148 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,582,494 |
| Unsecured Loans | 1,003,372 |
| Other Loans | 8,182,813 |
| TOTAL LOANS | 19,768,679 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -81,778 |
| Land And Building | 158,692 |
| Other Fixed Assets | 39,853 |
| NCUSIF Deposit | 348,771 |
| All Other Assets | 20,898 |
| TOTAL ASSETS | 35,188,362 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 114,425 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 48,722 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,558,350 |
| Regular shares | 16,370,363 |
| All Other Shares & Deposits | 9,962,338 |
| TOTAL SHARES & DEPOSITS | 31,891,051 |
| TOTAL LIABILITIES | 32,054,198 |
| Regular Reserve | 0 |
| Other Reserves | 1,827,526 |
| Undivided Earnings | 1,306,638 |
| TOTAL EQUITY | 3,134,164 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 35,188,362 |
| INCOME & EXPENSE | |
| Loan Income | 1,009,704 |
| Investment Income | 446,203 |
| Other Income | 98,201 |
| Total Employee Compensation & Benefits | 589,873 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 660,305 |
| Non-operating Income & (Expense) | 131,904 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 152,906 |
| Cost of Funds | 91,396 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 191,532 |
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