Dec, 31, 2023 — FIRST COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in BELOIT, WI with 7 branch locations and about $317.25 million in total assets. Opened 91 years ago in 1933, FIRST COMMUNITY CREDIT UNION has about 29,500 members and employs 87 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 COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1702 Park Ave BELOIT, WI 53511 |
| Phone: | (608) 362-9077 |
| Fax: | (608) 362-0434 |
| Website: | https://www.firstccu.com |
| Branches: | 7 branch locations |
| Members: | 29,500 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67214 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1933 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $317,251,089 |
| CEO/Manager: | Jack K Gill |
| Chairperson: | Wayne Udulutch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 27,088,779 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 438,805 |
| Real Estate Loans | 55,600,768 |
| Unsecured Loans | 3,178,714 |
| Other Loans | 221,809,187 |
| TOTAL LOANS | 280,912,637 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,334,932 |
| Land And Building | 3,101,549 |
| Other Fixed Assets | 498,583 |
| NCUSIF Deposit | 2,080,674 |
| All Other Assets | 194,092 |
| TOTAL ASSETS | 317,251,089 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 18,547,882 |
| Accounts Payable & Other Liabilities | 1,873,108 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 61,669,717 |
| Regular shares | 43,797,537 |
| All Other Shares & Deposits | 156,558,964 |
| TOTAL SHARES & DEPOSITS | 262,026,218 |
| TOTAL LIABILITIES | 282,447,208 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 34,803,881 |
| TOTAL EQUITY | 34,803,881 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 317,251,089 |
| INCOME & EXPENSE | |
| Loan Income | 12,662,029 |
| Investment Income | 600,079 |
| Other Income | 2,221,135 |
| Total Employee Compensation & Benefits | 5,111,001 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,844,700 |
| Non-operating Income & (Expense) | -134,331 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 174,300 |
| Cost of Funds | 4,258,423 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,461,851 |
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