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National Credit Union Service Organization

FIRST ATLANTIC FEDERAL CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for FIRST ATLANTIC FEDERAL CREDIT UNION as of: December 31, 2023.
Charter Number: 82

ASSETS$ Amount
CASH:  
 1. Cash on Hand 802,993
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 30,170,112
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 10,611,656
 7. Held-to-Maturity Debt Securities 0
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 0
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 229,736,080
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 1,468,305
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 672,559
 20. Land and Building 5,701,337
 21. Other Fixed Assets 1,000,724
 22. NCUA Share Insurance Capitalization Deposit 2,440,329
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 295,399,987
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 0
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 0
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 32,270
 9. Accounts Payable and Other Liabilities 6,536,665
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 88,179,902
 12. Regular Shares 98,538,872
 13. Money Market Shares 42,050,557
 14. Share Certificates 21,096,237
 15. IRA/KEOGH Accounts 5,306,012
 16. All Other Shares 0
 17. TOTAL SHARES 255,171,580
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 255,171,580
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 9,310,287
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 498,341
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 7,354,618
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 32,432
EQUITY:  
 33. Undivided Earnings 25,169,400
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 8,597,717
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -107,645
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 295,399,987
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 12,065,729
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 2,034,479
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 14,100,208
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 1,841,320
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 0
 9. TOTAL INTEREST EXPENSE 1,841,320
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 1,175,343
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 994,521
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 0
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 3,130,051
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 4,356,708
 23. Travel and Conference Expense 76,705
 24. Office Occupancy Expense 709,918
 25. Office Operations Expense 2,842,477
 26. Educational and Promotional Expenses 183,008
 27. Loan Servicing Expense 768,402
 28. Professional and Outside Services 191,356
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 49,777
 31. Miscellaneous Operating Expenses 372,346
 32. TOTAL NON-INTEREST EXPENSE 9,550,697
33. NET INCOME (LOSS) 4,662,899
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans12.952,161$2,762,194
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans9.31444$546,255
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans13.002,745$3,002,218
 5. New Vehicle Loans6.00560$11,592,098
 6. Used Vehicle Loans7.256,828$98,437,445
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit9.4962$766,999
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property8.50713$71,715,336
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property8.37631$25,189,982
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured4.5026$15,723,553
 13. Commercial Loans/Lines of Credit Not Real Estate Secured0.000$0
 14. TOTAL LOANS & LEASES14,170$229,736,080
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date2,258$71,183,619
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff23$1,563,933
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0