Dec, 31, 2021 — BRAGG MUTUAL FEDERAL CREDIT UNION is a federal credit union headquartered in FAYETTEVILLE, NC with 5 branch locations and about $95.04 million in total assets. Opened 70 years ago in 1952, BRAGG MUTUAL FEDERAL CREDIT UNION has about 9,435 members and employs 25 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: | http://www.braggmutual.org |
Branches: | 5 branch locations |
Members: | 9,435 |
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, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $95,035,534 |
CEO/Manager: | Stephen J Foley |
Chairperson: | John D Szoka |
ASSETS: | $ Amount |
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Cash & Equivalents | 24,070,487 |
TOTAL INVESTMENTS | 10,267,994 |
Loans Held for Sale | 0 |
Real Estate Loans | 10,320,168 |
Unsecured Loans | 8,448,005 |
Other Loans | 34,981,294 |
TOTAL LOANS | 53,749,467 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -418,028 |
Land And Building | 2,117,907 |
Other Fixed Assets | 1,189,212 |
NCUSIF Deposit | 793,079 |
All Other Assets | 3,265,416 |
TOTAL ASSETS | 95,035,534 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,563,591 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 21,680,344 |
Regular shares | 25,350,097 |
All Other Shares & Deposits | 37,360,072 |
TOTAL SHARES & DEPOSITS | 84,390,513 |
TOTAL LIABILITIES | 85,954,104 |
Regular Reserve | 241,003 |
Other Reserves | 2,710,404 |
Undivided Earnings | 6,130,023 |
TOTAL EQUITY | 9,081,430 |
TOTAL LIABILITIES, SHARES, & EQUITY | 95,035,534 |
INCOME & EXPENSE | |
Loan Income | 3,055,879 |
Investment Income | 113,869 |
Other Income | 1,142,766 |
Total Employee Compensation & Benefits | 1,761,837 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,195,352 |
Non-operating Income & (Expense) | -2,675 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 21,710 |
Cost of Funds | 225,364 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 964,854 |
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