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FIRST FLIGHT FEDERAL CREDIT UNION

Jun, 30, 2021 — FIRST FLIGHT FEDERAL CREDIT UNION is a federal credit union headquartered in CARY, NC with 8 branch locations and about $215.82 million in total assets. Opened 69 years ago in 1952, FIRST FLIGHT FEDERAL CREDIT UNION has about 18,564 members and employs 68 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:18,564
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:$215,821,969
CEO/Manager:Allen Fallon
Chairperson:Greg Williams

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 65,361,929
TOTAL INVESTMENTS 45,902,502
Loans Held for Sale 885,298
 
 Real Estate Loans 32,751,595
 Unsecured Loans 8,098,937
 Other Loans 52,061,780
 TOTAL LOANS 93,247,553
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -405,250
 Land And Building 7,021,360
 Other Fixed Assets 575,630
 NCUSIF Deposit 1,707,232
 All Other Assets 1,525,715
  TOTAL ASSETS 215,821,969
LIABILITIES & CAPITAL:  
 Dividends Payable 2,170
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,888,833
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 49,453,417
 Regular shares 70,582,905
 All Other Shares & Deposits 65,986,731
  TOTAL SHARES & DEPOSITS 186,023,053
  TOTAL LIABILITIES 187,914,056
 Regular Reserve 3,061,111
 Other Reserves 45,677
 Undivided Earnings 24,801,125
  TOTAL EQUITY 27,907,913
  TOTAL LIABILITIES, SHARES, & EQUITY 215,821,969
INCOME & EXPENSE  
 Loan Income 2,393,470
 Investment Income 599,119
 Other Income 1,022,197
 Total Employee Compensation & Benefits 2,385,026
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,999,325
 Non-operating Income & (Expense) 38,593
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -42,076
 Cost of Funds 210,988
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 661,111
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