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.
Name: | FAMILY FIRST CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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