Dec, 31, 2021 — BLUE FLAME CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLOTTE, NC with 1 branch location and about $31.51 million in total assets. Opened 68 years ago in 1954, BLUE FLAME CREDIT UNION has about 2,892 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BLUE FLAME CREDIT UNION |
|---|---|
| Address: (Main Office) | 4301 Yancey Rd CHARLOTTE, NC 28217 |
| Phone: | (704) 523-0075 |
| Fax: | (704) 523-8906 |
| Website: | https://www.blueflamecu.org |
| Branches: | 1 branch locations |
| Members: | 2,892 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63519 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $31,511,420 |
| CEO/Manager: | Charles A Lowe |
| Chairperson: | Michael Dyches |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,564,234 |
| TOTAL INVESTMENTS | 1,503,716 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,246,387 |
| Unsecured Loans | 3,010,289 |
| Other Loans | 11,882,745 |
| TOTAL LOANS | 16,139,421 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -79,999 |
| Land And Building | 1,953,092 |
| Other Fixed Assets | 30,124 |
| NCUSIF Deposit | 251,959 |
| All Other Assets | 148,873 |
| TOTAL ASSETS | 31,511,420 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 322,838 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,405,398 |
| Regular shares | 11,184,312 |
| All Other Shares & Deposits | 9,704,872 |
| TOTAL SHARES & DEPOSITS | 25,294,582 |
| TOTAL LIABILITIES | 25,617,420 |
| Regular Reserve | 2,483,000 |
| Other Reserves | 0 |
| Undivided Earnings | 3,411,000 |
| TOTAL EQUITY | 5,894,000 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,511,420 |
| INCOME & EXPENSE | |
| Loan Income | 759,352 |
| Investment Income | 47,492 |
| Other Income | 77,468 |
| Total Employee Compensation & Benefits | 527,713 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 615,436 |
| Non-operating Income & (Expense) | 192,862 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 46,629 |
| Cost of Funds | 50,430 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 35,830 |
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