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FIRST FLIGHT FEDERAL CREDIT UNION

Dec, 31, 2020 — FIRST FLIGHT FEDERAL CREDIT UNION is a federal credit union headquartered in CARY, NC with 8 branch locations and about $209.79 million in total assets. Opened 69 years ago in 1952, FIRST FLIGHT FEDERAL CREDIT UNION has about 18,704 members and employs 77 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 FLIGHT FEDERAL CREDIT UNION
Address:
(Main Office)
1815 KILDAIRE FARM RD, SUITE A
CARY, NC 27518
Phone:(919) 851-5690
Fax:(919) 851-8667
Website:http://www.efirstflight.com
Branches:8 branch locations
Members:18,704
Credit Union Type:Federal Credit Union
Charter Number:7870
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1952
Last Audited:Jun 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$209,790,935
CEO/Manager:Allen Fallon
Chairperson:Greg Williams

Call Report

  • Commercial Loans
  • Credit Builder
  • Micro Business Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Insurance/Investment Sales

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 51,359,408
TOTAL INVESTMENTS 50,506,675
Loans Held for Sale 1,118,600
 
 Real Estate Loans 31,101,246
 Unsecured Loans 8,441,585
 Other Loans 56,663,244
 TOTAL LOANS 96,618,338
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -565,658
 Land And Building 7,117,110
 Other Fixed Assets 570,553
 NCUSIF Deposit 1,642,360
 All Other Assets 1,423,549
  TOTAL ASSETS 209,790,935
LIABILITIES & CAPITAL:  
 Dividends Payable 1,921
 Notes & Interest Payable 7,000,000
 Accounts Payable & Other Liabilities 1,896,153
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 46,886,961
 Regular shares 64,776,572
 All Other Shares & Deposits 61,907,845
  TOTAL SHARES & DEPOSITS 173,571,378
  TOTAL LIABILITIES 182,469,452
 Regular Reserve 3,061,111
 Other Reserves 120,358
 Undivided Earnings 24,140,014
  TOTAL EQUITY 27,321,483
  TOTAL LIABILITIES, SHARES, & EQUITY 209,790,935
INCOME & EXPENSE  
 Loan Income 5,173,905
 Investment Income 1,404,840
 Other Income 4,280,941
 Total Employee Compensation & Benefits 5,322,072
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,884,589
 Non-operating Income & (Expense) 24,657
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 199,039
 Cost of Funds 746,382
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 732,261
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