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FLAGSHIP COMMUNITY FEDERAL CREDIT UNION

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
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
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

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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