Dec, 31, 2022 — FIRST FLIGHT FEDERAL CREDIT UNION is a federal credit union headquartered in CARY, NC with 7 branch locations and about $227.74 million in total assets. Opened 71 years ago in 1952, FIRST FLIGHT FEDERAL CREDIT UNION has about 18,003 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 CARY, NC 27518 |
| Phone: | (919) 851-5690 |
| Fax: | (919) 851-8667 |
| Website: | https://www.efirstflight.com |
| Branches: | 7 branch locations |
| Members: | 18,003 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $227,744,164 |
| CEO/Manager: | Allen Fallon |
| Chairperson: | Greg Williams |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 51,078,162 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 33,190,192 |
| Unsecured Loans | 8,066,443 |
| Other Loans | 66,663,716 |
| TOTAL LOANS | 108,113,462 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -394,411 |
| Land And Building | 5,847,308 |
| Other Fixed Assets | 422,999 |
| NCUSIF Deposit | 1,872,249 |
| All Other Assets | 57,840 |
| TOTAL ASSETS | 227,744,164 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,129,270 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 53,655,358 |
| Regular shares | 78,185,655 |
| All Other Shares & Deposits | 67,224,131 |
| TOTAL SHARES & DEPOSITS | 199,065,144 |
| TOTAL LIABILITIES | 201,194,414 |
| Regular Reserve | 0 |
| Other Reserves | 1,500,830 |
| Undivided Earnings | 25,048,920 |
| TOTAL EQUITY | 26,549,750 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 227,744,164 |
| INCOME & EXPENSE | |
| Loan Income | 3,821,873 |
| Investment Income | 1,340,685 |
| Other Income | 1,504,170 |
| Total Employee Compensation & Benefits | 3,825,924 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,386,892 |
| Non-operating Income & (Expense) | -17,480 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 105,707 |
| Cost of Funds | 256,666 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 513,400 |
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