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FAMILY FIRST CREDIT UNION

Dec, 31, 2023 — FAMILY FIRST CREDIT UNION is a federally insured state chartered credit union headquartered in SAGINAW, MI with 3 branch locations and about $94.92 million in total assets. Opened 85 years ago in 1939, FAMILY FIRST CREDIT UNION has about 5,706 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272484674
Name:FAMILY FIRST CREDIT UNION
Address:
(Main Office)
1011 N Michigan Ave
SAGINAW, MI 48602-4326
Phone:(989) 759-1686
Fax:(989) 752-4992
Website:https://www.fam1st.com
Branches:3 branch locations
Members:5,706
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61909
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1939
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$94,922,544
CEO/Manager:Janie C Smith
Chairperson:Maurice Patterson

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,730,010
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 23,412,510
 Unsecured Loans 5,960,905
 Other Loans 24,551,202
 TOTAL LOANS 53,979,585
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -974,822
 Land And Building 3,246,118
 Other Fixed Assets 343,785
 NCUSIF Deposit 697,308
 All Other Assets 45,980
  TOTAL ASSETS 94,922,544
LIABILITIES & CAPITAL:  
 Dividends Payable 3
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 365,952
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 13,651,324
 Regular shares 40,783,332
 All Other Shares & Deposits 32,192,396
  TOTAL SHARES & DEPOSITS 86,627,052
  TOTAL LIABILITIES 86,993,007
 Regular Reserve 0
 Other Reserves -806,473
 Undivided Earnings 8,736,010
  TOTAL EQUITY 7,929,537
  TOTAL LIABILITIES, SHARES, & EQUITY 94,922,544
INCOME & EXPENSE  
 Loan Income 3,445,920
 Investment Income 745,830
 Other Income 1,026,681
 Total Employee Compensation & Benefits 1,592,662
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,207,625
 Non-operating Income & (Expense) -46,621
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 674,996
 Cost of Funds 657,233
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 390,273
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