Dec, 31, 2023 — MORTON LANE FEDERAL CREDIT UNION is a federal credit union headquartered in BUFFALO, NY with 3 branch locations and about $63.71 million in total assets. Opened 62 years ago in 1962, MORTON LANE FEDERAL CREDIT UNION has about 3,477 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MORTON LANE FEDERAL CREDIT UNION |
---|---|
Address: (Main Office) | 388 Englewood Ave BUFFALO, NY 14223-2812 |
Phone: | (716) 837-2007 |
Fax: | (716) 837-0174 |
Website: | https://www.mortonlanedirect.com |
Branches: | 3 branch locations |
Members: | 3,477 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15021 |
---|---|
Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $63,709,442 |
CEO/Manager: | JUDITH BLEICHFELD |
Chairperson: | MARSHA JURKOWSKI |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 3,274,831 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 18,209,543 |
Unsecured Loans | 6,790,821 |
Other Loans | 4,821,636 |
TOTAL LOANS | 29,822,000 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -213,881 |
Land And Building | 11,001 |
Other Fixed Assets | 27,733 |
NCUSIF Deposit | 515,183 |
All Other Assets | 0 |
TOTAL ASSETS | 63,709,442 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 206,983 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,041,447 |
Regular shares | 28,546,549 |
All Other Shares & Deposits | 21,407,874 |
TOTAL SHARES & DEPOSITS | 55,995,870 |
TOTAL LIABILITIES | 56,202,853 |
Regular Reserve | 0 |
Other Reserves | 511,011 |
Undivided Earnings | 6,995,578 |
TOTAL EQUITY | 7,506,589 |
TOTAL LIABILITIES, SHARES, & EQUITY | 63,709,442 |
INCOME & EXPENSE | |
Loan Income | 1,574,335 |
Investment Income | 730,677 |
Other Income | 108,329 |
Total Employee Compensation & Benefits | 874,090 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 496,503 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 292,300 |
Cost of Funds | 665,154 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 204,023 |
↑ Back to Top |