Dec, 31, 2023 — SUFFOLK FEDERAL CREDIT UNION is a federal credit union headquartered in MEDFORD, NY with 10 branch locations and about $1.78 billion in total assets. Opened 57 years ago in 1967, SUFFOLK FEDERAL CREDIT UNION has about 69,979 members and employs 196 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SUFFOLK FEDERAL CREDIT UNION |
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Address: (Main Office) | 3681 Horseblock Rd MEDFORD, NY 11763-2242 |
Phone: | (631) 924-8000 |
Fax: | (631) 396-1246 |
Website: | https://www.suffolkcu.org |
Branches: | 10 branch locations |
Members: | 69,979 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 17914 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,777,006,954 |
CEO/Manager: | Michele Dean |
Chairperson: | James J Maggio, Jr. |
ASSETS: | $ Amount |
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Cash & Equivalents | 118,992,384 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 848,688,574 |
Unsecured Loans | 39,544,356 |
Other Loans | 287,645,089 |
TOTAL LOANS | 1,175,878,020 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,722,469 |
Land And Building | 6,028,314 |
Other Fixed Assets | 3,539,294 |
NCUSIF Deposit | 14,664,638 |
All Other Assets | 0 |
TOTAL ASSETS | 1,777,006,954 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 99,725,000 |
Accounts Payable & Other Liabilities | 24,002,657 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 275,462,502 |
Regular shares | 562,621,859 |
All Other Shares & Deposits | 724,352,099 |
TOTAL SHARES & DEPOSITS | 1,562,436,461 |
TOTAL LIABILITIES | 1,686,164,118 |
Regular Reserve | 0 |
Other Reserves | -61,040,945 |
Undivided Earnings | 151,883,781 |
TOTAL EQUITY | 90,842,836 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,777,006,954 |
INCOME & EXPENSE | |
Loan Income | 52,282,978 |
Investment Income | 13,646,167 |
Other Income | 3,851,638 |
Total Employee Compensation & Benefits | 21,282,009 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 20,162,726 |
Non-operating Income & (Expense) | -179,598 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,914,325 |
Cost of Funds | 21,650,588 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 11,002,122 |
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