Dec, 31, 2023 — PLATINUM FEDERAL CREDIT UNION is a federal credit union headquartered in DULUTH, GA with 5 branch locations and about $280.74 million in total assets. Opened 25 years ago in 1999, PLATINUM FEDERAL CREDIT UNION has about 11,464 members and employs 56 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PLATINUM FEDERAL CREDIT UNION |
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Address: (Main Office) | 1815 Satellite Blvd Ste 200 DULUTH, GA 30097 |
Phone: | (404) 297-9797 |
Fax: | |
Website: | https://www.platinumfcu.org |
Branches: | 5 branch locations |
Members: | 11,464 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24631 |
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Membership Type: | Associational - Religious, other than those designated 'low-income' |
Corporate Credit Union: | No |
Year Opened: | 1999 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $280,742,571 |
CEO/Manager: | KABIR LAIWALLA |
Chairperson: | AMIN N PREMJEE |
ASSETS: | $ Amount |
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Cash & Equivalents | 43,152,376 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 69,862,495 |
Unsecured Loans | 9,159,064 |
Other Loans | 119,615,938 |
TOTAL LOANS | 198,637,500 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -989,575 |
Land And Building | 5,263,964 |
Other Fixed Assets | 249,190 |
NCUSIF Deposit | 1,721,481 |
All Other Assets | 0 |
TOTAL ASSETS | 280,742,571 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,488,628 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 109,048,286 |
Regular shares | 49,639,706 |
All Other Shares & Deposits | 95,416,762 |
TOTAL SHARES & DEPOSITS | 254,104,754 |
TOTAL LIABILITIES | 255,593,382 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 25,149,189 |
TOTAL EQUITY | 25,149,189 |
TOTAL LIABILITIES, SHARES, & EQUITY | 280,742,571 |
INCOME & EXPENSE | |
Loan Income | 8,353,568 |
Investment Income | 1,362,303 |
Other Income | 4,019,882 |
Total Employee Compensation & Benefits | 3,461,862 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,686,194 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 99,083 |
Cost of Funds | 2,867,171 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,978,678 |
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