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 |
| 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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