Dec, 31, 2022 — BLUE FLAME CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLOTTE, NC with 1 branch location and about $32.43 million in total assets. Opened 69 years ago in 1954, BLUE FLAME CREDIT UNION has about 2,853 members and employs 11 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) | 2000 Continental Blvd CHARLOTTE, NC 28273 |
| Phone: | (704) 523-0075 |
| Fax: | (704) 523-8906 |
| Website: | https://www.blueflamecu.org |
| Branches: | 1 branch locations |
| Members: | 2,853 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $32,428,234 |
| CEO/Manager: | Charles A Lowe |
| Chairperson: | Michael Dyches |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,567,259 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,140,600 |
| Unsecured Loans | 2,814,208 |
| Other Loans | 12,910,690 |
| TOTAL LOANS | 16,865,498 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -64,835 |
| Land And Building | 3,142,730 |
| Other Fixed Assets | 23,305 |
| NCUSIF Deposit | 244,608 |
| All Other Assets | 0 |
| TOTAL ASSETS | 32,428,234 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 395,653 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,323,717 |
| Regular shares | 12,383,992 |
| All Other Shares & Deposits | 9,690,379 |
| TOTAL SHARES & DEPOSITS | 26,398,088 |
| TOTAL LIABILITIES | 26,793,741 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 5,634,493 |
| TOTAL EQUITY | 5,634,493 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 32,428,234 |
| INCOME & EXPENSE | |
| Loan Income | 561,546 |
| Investment Income | 76,636 |
| Other Income | 23,509 |
| Total Employee Compensation & Benefits | 525,943 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 672,101 |
| Non-operating Income & (Expense) | 113,268 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -32,000 |
| Cost of Funds | 36,879 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -259,508 |
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