Dec, 31, 2020 — FLAGSHIP COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in PORT HURON, MI with 2 branch locations and about $30.83 million in total assets. Opened 62 years ago in 1959, FLAGSHIP COMMUNITY FEDERAL CREDIT UNION has about 3,317 members and employs 12 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 |
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Address: (Main Office) | 3910 LAPEER RD PORT HURON, MI 48060-2402 |
Phone: | (810) 982-8575 |
Fax: | (810) 982-8260 |
Website: | http://flagship.org |
Branches: | 2 branch locations |
Members: | 3,317 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 13391 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Nov 01, 2019 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $30,826,342 |
CEO/Manager: | Steven P Scandalito |
Chairperson: | Russell Anglebrandt |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,115,380 |
TOTAL INVESTMENTS | 3,302,092 |
Loans Held for Sale | 0 |
Real Estate Loans | 11,950,829 |
Unsecured Loans | 924,267 |
Other Loans | 7,724,630 |
TOTAL LOANS | 20,599,726 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -40,258 |
Land And Building | 406,897 |
Other Fixed Assets | 43,473 |
NCUSIF Deposit | 221,861 |
All Other Assets | 177,171 |
TOTAL ASSETS | 30,826,342 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 79,089 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 39,177 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,630,862 |
Regular shares | 13,238,386 |
All Other Shares & Deposits | 9,768,825 |
TOTAL SHARES & DEPOSITS | 28,638,073 |
TOTAL LIABILITIES | 28,756,339 |
Regular Reserve | 799,650 |
Other Reserves | 267,594 |
Undivided Earnings | 1,002,759 |
TOTAL EQUITY | 2,070,003 |
TOTAL LIABILITIES, SHARES, & EQUITY | 30,826,342 |
INCOME & EXPENSE | |
Loan Income | 979,967 |
Investment Income | 62,012 |
Other Income | 208,686 |
Total Employee Compensation & Benefits | 441,472 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 520,201 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 48,916 |
Cost of Funds | 87,929 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 152,147 |
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