Overview / Commentary
Blue Flame Credit Union is headquartered in Charlotte and is the 46th largest credit union in the state of North Carolina. It is also the 2,941st largest credit union in the nation. It was established in 1954 and as of December of 2024, it had grown to 7 employees and 3,050 members at 1 location. Blue Flame Credit Union has a B health rating.
Field of Membership Restrictions
Membership in Blue Flame Credit Union is open to those who live, work, worship, or attend school in Mecklenburg County, North Carolina. Employees of Duke Energy, Piedmont Natural Gas, or Heritage Propane/Amerigas also qualify for membership. Immediate family members of a current Blue Flame Credit Union member are also eligible to join.
See current membership details
Health
B
Data as of Q4 2024
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Blue Flame Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 63519 |
| Year Chartered | 1954 |
| Employees | 7 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -1.92% |
| Return on Equity - YTD | -13.75% |
| Annual Interest Income | $1.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $28.6MM$29.6MM |
| Loans | Q4 2024vs Q4 2023 | $20.6MM$19.6MM |
| Deposits | Q4 2024vs Q4 2023 | $24.2MM$24.5MM |
| Equity Capital | Q4 2024vs Q4 2023 | $4MM$4.6MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $208K$226K |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $86K$87K |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |