Dec, 31, 2023 — FIRST CHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in NEW CASTLE, PA with 3 branch locations and about $66.79 million in total assets. Opened 72 years ago in 1952, FIRST CHOICE FEDERAL CREDIT UNION has about 7,492 members and employs 16 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 CHOICE FEDERAL CREDIT UNION |
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Address: (Main Office) | 2209 W State St NEW CASTLE, PA 16101-1138 |
Phone: | (724) 652-8393 |
Fax: | (724) 652-8855 |
Website: | https://www.firstchoicefcu.com |
Branches: | 3 branch locations |
Members: | 7,492 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8229 |
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Membership Type: | Multiple common bond - Primarily transportation |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $66,787,715 |
CEO/Manager: | Michael R Vatter |
Chairperson: | Pamela J Miller |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,092,805 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 8,087,181 |
Unsecured Loans | 2,747,299 |
Other Loans | 43,349,791 |
TOTAL LOANS | 54,184,271 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -372,262 |
Land And Building | 1,841,921 |
Other Fixed Assets | 98,285 |
NCUSIF Deposit | 606,407 |
All Other Assets | 0 |
TOTAL ASSETS | 66,787,715 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 136,843 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 8,513 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,830,477 |
Regular shares | 40,012,617 |
All Other Shares & Deposits | 11,042,010 |
TOTAL SHARES & DEPOSITS | 59,885,103 |
TOTAL LIABILITIES | 60,030,459 |
Regular Reserve | 0 |
Other Reserves | 751,857 |
Undivided Earnings | 6,005,399 |
TOTAL EQUITY | 6,757,256 |
TOTAL LIABILITIES, SHARES, & EQUITY | 66,787,715 |
INCOME & EXPENSE | |
Loan Income | 2,646,251 |
Investment Income | 220,887 |
Other Income | 243,399 |
Total Employee Compensation & Benefits | 1,060,350 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,103,515 |
Non-operating Income & (Expense) | 228,302 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 247,700 |
Cost of Funds | 268,747 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,102,018 |
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