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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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