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 |
| 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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