FIRST CLASS FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.firstclass.org for more information.
Dec, 31, 2023 — FIRST CLASS FEDERAL CREDIT UNION is a federal credit union headquartered in ALLENTOWN, PA with 2 branch locations and about $34.62 million in total assets. Opened 90 years ago in 1934, FIRST CLASS FEDERAL CREDIT UNION has about 2,025 members and employs 6 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 CLASS FEDERAL CREDIT UNION |
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Address: (Main Office) | 510 BUSINESS PARK LANE ALLENTOWN, PA 18109 |
Phone: | (610) 439-4102 |
Fax: | (610) 439-1323 |
Website: | https://www.firstclass.org |
Branches: | 2 branch locations |
Members: | 2,025 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 62 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1934 |
Last Audited: | Jun 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $34,616,713 |
CEO/Manager: | Albert F Farnschlader |
Chairperson: | Darryl K Crum |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,427,967 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 18,752,607 |
Unsecured Loans | 937,881 |
Other Loans | 2,572,193 |
TOTAL LOANS | 22,262,681 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -54,718 |
Land And Building | 886,180 |
Other Fixed Assets | 40,479 |
NCUSIF Deposit | 286,259 |
All Other Assets | 0 |
TOTAL ASSETS | 34,616,713 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,861 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 5,081 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,917,278 |
Regular shares | 23,486,387 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 29,403,665 |
TOTAL LIABILITIES | 29,412,607 |
Regular Reserve | 0 |
Other Reserves | 598,300 |
Undivided Earnings | 4,605,806 |
TOTAL EQUITY | 5,204,106 |
TOTAL LIABILITIES, SHARES, & EQUITY | 34,616,713 |
INCOME & EXPENSE | |
Loan Income | 628,751 |
Investment Income | 55,348 |
Other Income | 42,830 |
Total Employee Compensation & Benefits | 338,428 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 373,027 |
Non-operating Income & (Expense) | 87,729 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 22,708 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 80,495 |
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