Dec, 31, 2023 — FIRST AREA FEDERAL CREDIT UNION is a federal credit union headquartered in LEWISTOWN, PA with 1 branch location and about $26.34 million in total assets. Opened 63 years ago in 1961, FIRST AREA FEDERAL CREDIT UNION has about 2,839 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 23 S Dorcas St LEWISTOWN, PA 17044 |
| Phone: | (717) 248-5103 |
| Fax: | (717) 248-9672 |
| Website: | https://www.firstareafcu.com |
| Branches: | 1 branch locations |
| Members: | 2,839 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14346 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,338,169 |
| CEO/Manager: | Bonnie K Fisher |
| Chairperson: | Robert L Haines Jr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,454,451 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,629,841 |
| Unsecured Loans | 1,189,051 |
| Other Loans | 3,180,185 |
| TOTAL LOANS | 5,999,077 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -29,818 |
| Land And Building | 139,997 |
| Other Fixed Assets | 10,226 |
| NCUSIF Deposit | 266,362 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,338,169 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 13,387 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -263,705 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,161,109 |
| Regular shares | 18,063,405 |
| All Other Shares & Deposits | 299,112 |
| TOTAL SHARES & DEPOSITS | 24,523,627 |
| TOTAL LIABILITIES | 24,273,309 |
| Regular Reserve | 0 |
| Other Reserves | -176,662 |
| Undivided Earnings | 2,241,522 |
| TOTAL EQUITY | 2,064,860 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,338,169 |
| INCOME & EXPENSE | |
| Loan Income | 420,891 |
| Investment Income | 354,099 |
| Other Income | 272,632 |
| Total Employee Compensation & Benefits | 443,841 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 466,803 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -14,728 |
| Cost of Funds | 14,349 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 137,357 |
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