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BRAGG MUTUAL FEDERAL CREDIT UNION

Jun, 30, 2024 — BRAGG MUTUAL FEDERAL CREDIT UNION is a federal credit union headquartered in FAYETTEVILLE, NC with 5 branch locations and about $110.26 million in total assets. Opened 73 years ago in 1952, BRAGG MUTUAL FEDERAL CREDIT UNION has about 10,865 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:BRAGG MUTUAL FEDERAL CREDIT UNION
Address:
(Main Office)
2917 Village Dr
FAYETTEVILLE, NC 28304-3814
Phone:(910) 488-3515
Fax:(910) 486-6137
Website:https://www.braggmutual.org
Branches:5 branch locations
Members:10,865
Credit Union Type:Federal Credit Union
Charter Number:7955
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1952
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$110,255,276
CEO/Manager:Stephen J Foley
Chairperson:John D Szoka

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,950,366
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 19,381,433
 Unsecured Loans 8,775,532
 Other Loans 42,091,398
 TOTAL LOANS 70,248,363
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -487,759
 Land And Building 2,071,262
 Other Fixed Assets 1,005,806
 NCUSIF Deposit 824,743
 All Other Assets 296,690
  TOTAL ASSETS 110,255,276
LIABILITIES & CAPITAL:  
 Dividends Payable 3
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,636,907
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 25,471,080
 Regular shares 34,361,372
 All Other Shares & Deposits 39,632,450
  TOTAL SHARES & DEPOSITS 99,464,902
  TOTAL LIABILITIES 101,101,812
 Regular Reserve 0
 Other Reserves 2,114,626
 Undivided Earnings 7,038,838
  TOTAL EQUITY 9,153,464
  TOTAL LIABILITIES, SHARES, & EQUITY 110,255,276
INCOME & EXPENSE  
 Loan Income 2,504,191
 Investment Income 235,929
 Other Income 1,060,877
 Total Employee Compensation & Benefits 1,458,686
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,863,745
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 281,297
 Cost of Funds 150,155
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 667,812
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