Dec, 31, 2021 — FIRST FLIGHT FEDERAL CREDIT UNION is a federal credit union headquartered in CARY, NC with 8 branch locations and about $221.80 million in total assets. Opened 70 years ago in 1952, FIRST FLIGHT FEDERAL CREDIT UNION has about 17,880 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: | 8 branch locations |
| Members: | 17,880 |
| 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: | $221,798,181 |
| CEO/Manager: | Allen Fallon |
| Chairperson: | Greg Williams |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 71,408,393 |
| TOTAL INVESTMENTS | 46,508,694 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 33,858,431 |
| Unsecured Loans | 7,919,299 |
| Other Loans | 49,418,596 |
| TOTAL LOANS | 91,420,967 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -383,784 |
| Land And Building | 5,976,390 |
| Other Fixed Assets | 482,176 |
| NCUSIF Deposit | 1,828,597 |
| All Other Assets | 4,556,748 |
| TOTAL ASSETS | 221,798,181 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,127 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,802,348 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 52,183,777 |
| Regular shares | 72,808,917 |
| All Other Shares & Deposits | 67,433,212 |
| TOTAL SHARES & DEPOSITS | 192,425,906 |
| TOTAL LIABILITIES | 194,230,381 |
| Regular Reserve | 3,061,111 |
| Other Reserves | -28,831 |
| Undivided Earnings | 24,535,520 |
| TOTAL EQUITY | 27,567,800 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 221,798,181 |
| INCOME & EXPENSE | |
| Loan Income | 4,775,271 |
| Investment Income | 1,189,857 |
| Other Income | 2,125,446 |
| Total Employee Compensation & Benefits | 5,193,036 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,215,491 |
| Non-operating Income & (Expense) | -50,749 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -56,771 |
| Cost of Funds | 393,934 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 395,509 |
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