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PLATINUM FEDERAL CREDIT UNION

Jun, 30, 2021 — PLATINUM FEDERAL CREDIT UNION is a federal credit union headquartered in DULUTH, GA with 5 branch locations and about $211.02 million in total assets. Opened 22 years ago in 1999, PLATINUM FEDERAL CREDIT UNION has about 10,699 members and employs 48 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 061192274
Name:PLATINUM FEDERAL CREDIT UNION
Address:
(Main Office)
2763 MEADOW CHURCH RD, SUITE 170
DULUTH, GA 30097
Phone:(404) 297-9797
Fax:
Website:http://www.platinumfcu.org
Branches:5 branch locations
Members:10,699
Credit Union Type:Federal Credit Union
Charter Number:24631
Membership Type:Associational - Religious, other than those designated 'low-income'
Corporate Credit Union:No
Year Opened:1999
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$211,021,279
CEO/Manager:KABIR LAIWALLA
Chairperson:AMIN N PREMJEE

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 54,862,562
TOTAL INVESTMENTS 22,921,991
Loans Held for Sale 0
 
 Real Estate Loans 44,236,780
 Unsecured Loans 24,204,701
 Other Loans 61,100,350
 TOTAL LOANS 129,541,831
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -745,322
 Land And Building 2,061,979
 Other Fixed Assets 159,866
 NCUSIF Deposit 1,295,435
 All Other Assets 922,937
  TOTAL ASSETS 211,021,279
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,068,094
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 98,414,868
 Regular shares 47,583,872
 All Other Shares & Deposits 48,167,155
  TOTAL SHARES & DEPOSITS 194,165,895
  TOTAL LIABILITIES 196,233,989
 Regular Reserve 900,000
 Other Reserves 0
 Undivided Earnings 13,887,290
  TOTAL EQUITY 14,787,290
  TOTAL LIABILITIES, SHARES, & EQUITY 211,021,279
INCOME & EXPENSE  
 Loan Income 2,189,349
 Investment Income 89,412
 Other Income 2,095,184
 Total Employee Compensation & Benefits 1,372,435
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 967,395
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 69,231
 Cost of Funds 250,541
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,804,682
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