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FIRST FLIGHT FEDERAL CREDIT UNION

Mar, 31, 2021 — FIRST FLIGHT FEDERAL CREDIT UNION is a federal credit union headquartered in CARY, NC with 8 branch locations and about $212.31 million in total assets. Opened 69 years ago in 1952, FIRST FLIGHT FEDERAL CREDIT UNION has about 18,497 members and employs 70 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:18,497
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:$212,309,903
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 59,265,342
TOTAL INVESTMENTS 47,622,870
Loans Held for Sale 990,650
 
 Real Estate Loans 31,936,376
 Unsecured Loans 8,295,205
 Other Loans 53,529,175
 TOTAL LOANS 94,163,373
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -501,630
 Land And Building 7,069,235
 Other Fixed Assets 579,996
 NCUSIF Deposit 1,642,360
 All Other Assets 1,477,707
  TOTAL ASSETS 212,309,903
LIABILITIES & CAPITAL:  
 Dividends Payable 2,290
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,052,354
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 50,085,169
 Regular shares 67,926,885
 All Other Shares & Deposits 64,733,231
  TOTAL SHARES & DEPOSITS 182,745,285
  TOTAL LIABILITIES 184,799,929
 Regular Reserve 3,061,111
 Other Reserves 19,836
 Undivided Earnings 24,429,027
  TOTAL EQUITY 27,509,974
  TOTAL LIABILITIES, SHARES, & EQUITY 212,309,903
INCOME & EXPENSE  
 Loan Income 1,200,456
 Investment Income 299,150
 Other Income 524,017
 Total Employee Compensation & Benefits 1,195,129
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 996,709
 Non-operating Income & (Expense) 20,250
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -13,648
 Cost of Funds 113,565
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 289,014
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