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National Credit Union Service Organization

FIRST CLASS COMMUNITY CREDIT UNION

Dec, 31, 2020 — FIRST CLASS COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in WEST DES MOINES, IA with 2 branch locations and about $93.09 million in total assets. Opened 96 years ago in 1925, FIRST CLASS COMMUNITY CREDIT UNION has about 8,578 members and employs 19 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 COMMUNITY CREDIT UNION
Address:
(Main Office)
2051 WESTOWN PARKWAY
WEST DES MOINES, IA 50265-1541
Phone:(515) 224-4300
Fax:(515) 224-4306
Website:http://www.gofirstclass.org
Branches:2 branch locations
Members:8,578
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64231
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1925
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$93,085,410
CEO/Manager:Zac Pollock
Chairperson:Gary Olson

Call Report

  • Commercial Loans
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Micro Business Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,993,511
TOTAL INVESTMENTS 41,499,174
Loans Held for Sale 0
 
 Real Estate Loans 6,372,264
 Unsecured Loans 1,521,490
 Other Loans 24,969,647
 TOTAL LOANS 32,863,401
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -232,498
 Land And Building 1,109,446
 Other Fixed Assets 95,939
 NCUSIF Deposit 788,994
 All Other Assets 3,967,443
  TOTAL ASSETS 93,085,410
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 943,704
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 24,156,539
 Regular shares 39,889,058
 All Other Shares & Deposits 20,828,073
  TOTAL SHARES & DEPOSITS 84,873,670
  TOTAL LIABILITIES 85,817,374
 Regular Reserve 2,078,875
 Other Reserves 3,543,846
 Undivided Earnings 1,645,315
  TOTAL EQUITY 7,268,036
  TOTAL LIABILITIES, SHARES, & EQUITY 93,085,410
INCOME & EXPENSE  
 Loan Income 2,299,046
 Investment Income 623,815
 Other Income 1,324,783
 Total Employee Compensation & Benefits 1,267,276
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,703,597
 Non-operating Income & (Expense) -7,862
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 96,974
 Cost of Funds 58,322
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 113,613
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