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FIRST CHOICE FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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