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 |
| 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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