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 |
| 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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