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FIRST CLASS FEDERAL CREDIT UNION

Jun, 30, 2021 — FIRST CLASS FEDERAL CREDIT UNION is a federal credit union headquartered in ALLENTOWN, PA with 2 branch locations and about $37.75 million in total assets. Opened 87 years ago in 1934, FIRST CLASS FEDERAL CREDIT UNION has about 2,185 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FIRST CLASS FEDERAL CREDIT UNION
Address:
(Main Office)
510 BUSINESS PARK LANE
ALLENTOWN, PA 18109
Phone:(610) 439-4102
Fax:(610) 439-1323
Website:http://www.firstclass.org
Branches:2 branch locations
Members:2,185
Credit Union Type:Federal Credit Union
Charter Number:62
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1934
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$37,747,424
CEO/Manager:Albert F Farnschlader
Chairperson:Darryl K Crum

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 15,419,005
TOTAL INVESTMENTS 114,580
Loans Held for Sale 0
 
 Real Estate Loans 17,037,151
 Unsecured Loans 1,029,034
 Other Loans 2,713,967
 TOTAL LOANS 20,780,152
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -56,084
 Land And Building 853,461
 Other Fixed Assets 53,687
 NCUSIF Deposit 306,728
 All Other Assets 275,895
  TOTAL ASSETS 37,747,424
LIABILITIES & CAPITAL:  
 Dividends Payable 2,779
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 35,155
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,575,791
 Regular shares 23,554,140
 All Other Shares & Deposits 3,460,944
  TOTAL SHARES & DEPOSITS 32,590,875
  TOTAL LIABILITIES 32,628,809
 Regular Reserve 598,300
 Other Reserves 0
 Undivided Earnings 4,520,315
  TOTAL EQUITY 5,118,615
  TOTAL LIABILITIES, SHARES, & EQUITY 37,747,424
INCOME & EXPENSE  
 Loan Income 436,720
 Investment Income 8,339
 Other Income 23,049
 Total Employee Compensation & Benefits 199,827
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 234,243
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 18,783
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 70,691
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