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FIRST FLIGHT FEDERAL CREDIT UNION

Mar, 31, 2022 — FIRST FLIGHT FEDERAL CREDIT UNION is a federal credit union headquartered in CARY, NC with 7 branch locations and about $225.37 million in total assets. Opened 70 years ago in 1952, FIRST FLIGHT FEDERAL CREDIT UNION has about 17,714 members and employs 69 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:http://www.efirstflight.com
Branches:7 branch locations
Members:17,714
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$225,370,724
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 72,466,962
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 33,674,309
 Unsecured Loans 7,864,298
 Other Loans 50,472,835
 TOTAL LOANS 92,229,774
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -406,024
 Land And Building 5,935,366
 Other Fixed Assets 436,299
 NCUSIF Deposit 1,828,597
 All Other Assets 57,840
  TOTAL ASSETS 225,370,724
LIABILITIES & CAPITAL:  
 Dividends Payable 2,090
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,785,867
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 52,807,938
 Regular shares 74,410,546
 All Other Shares & Deposits 69,335,344
  TOTAL SHARES & DEPOSITS 196,553,828
  TOTAL LIABILITIES 198,341,785
 Regular Reserve 0
 Other Reserves -509,585
 Undivided Earnings 27,538,524
  TOTAL EQUITY 27,028,939
  TOTAL LIABILITIES, SHARES, & EQUITY 225,370,724
INCOME & EXPENSE  
 Loan Income 1,151,029
 Investment Income 297,622
 Other Income 518,177
 Total Employee Compensation & Benefits 1,245,823
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,034,062
 Non-operating Income & (Expense) -16,804
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 108,183
 Cost of Funds 84,538
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -58,110
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