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FIRST CLASS FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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