Sep, 30, 2025 — FIRST CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in WEST PALM BEACH, FL with 2 branch locations and about $151.97 million in total assets. Opened 97 years ago in 1929, FIRST CHOICE CREDIT UNION has about 8,409 members and employs 28 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 CHOICE CREDIT UNION |
|---|---|
| Address: (Main Office) | 1055 S Congress Ave WEST PALM BEACH, FL 33406-5195 |
| Phone: | (561) 641-0100 |
| Fax: | (561) 641-7931 |
| Website: | https://www.firstchoicecu.org |
| Branches: | 2 branch locations |
| Members: | 8,409 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67725 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1929 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $151,971,418 |
| CEO/Manager: | Michael J Welte |
| Chairperson: | Rhonda Diffenbach |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,122,013 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 29,597,453 |
| Unsecured Loans | 2,605,192 |
| Other Loans | 44,841,741 |
| TOTAL LOANS | 77,044,387 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -738,353 |
| Land And Building | 1,561,227 |
| Other Fixed Assets | 648,156 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,268,409 |
| All Other Assets | 0 |
| TOTAL ASSETS | 151,971,418 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 913,653 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 32,200,839 |
| Regular shares | 53,124,966 |
| All Other Shares & Deposits | 53,318,572 |
| TOTAL SHARES & DEPOSITS | 138,644,377 |
| TOTAL LIABILITIES | 139,558,030 |
| Regular Reserve | 0 |
| Other Reserves | -3,929,147 |
| Undivided Earnings | 16,342,535 |
| TOTAL EQUITY | 12,413,388 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 151,971,418 |
| INCOME & EXPENSE | |
| Loan Income | 3,069,098 |
| Investment Income | 1,619,231 |
| Other Income | 392,717 |
| Total Employee Compensation & Benefits | 1,542,191 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,511,337 |
| Non-operating Income & (Expense) | -70,659 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 480,115 |
| Cost of Funds | 1,382,793 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 398,866 |
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