Dec, 31, 2023 — ALTERNATIVES FEDERAL CREDIT UNION is a federal credit union headquartered in ITHACA, NY with 1 branch location and about $150.56 million in total assets. Opened 46 years ago in 1978, ALTERNATIVES FEDERAL CREDIT UNION has about 10,523 members and employs 54 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALTERNATIVES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 125 N Fulton St ITHACA, NY 14850-3301 |
| Phone: | (607) 273-4611 |
| Fax: | (607) 277-6391 |
| Website: | https://www.alternatives.org |
| Branches: | 1 branch locations |
| Members: | 10,523 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23283 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1978 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $150,555,151 |
| CEO/Manager: | Kevin Mietlicki |
| Chairperson: | Brian DeYoung |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,007,622 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 57,305,870 |
| Unsecured Loans | 8,616,198 |
| Other Loans | 21,546,741 |
| TOTAL LOANS | 87,468,809 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,348,341 |
| Land And Building | 2,172,436 |
| Other Fixed Assets | 120,388 |
| NCUSIF Deposit | 1,312,004 |
| All Other Assets | 160,437 |
| TOTAL ASSETS | 150,555,151 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 326 |
| Notes & Interest Payable | 560,000 |
| Accounts Payable & Other Liabilities | 1,397,117 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 6,440,000 |
| Share Drafts | 48,340,274 |
| Regular shares | 60,160,653 |
| All Other Shares & Deposits | 23,166,680 |
| TOTAL SHARES & DEPOSITS | 131,667,607 |
| TOTAL LIABILITIES | 140,065,050 |
| Regular Reserve | 0 |
| Other Reserves | -994,898 |
| Undivided Earnings | 11,484,999 |
| TOTAL EQUITY | 10,490,101 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 150,555,151 |
| INCOME & EXPENSE | |
| Loan Income | 4,854,540 |
| Investment Income | 2,001,645 |
| Other Income | 574,597 |
| Total Employee Compensation & Benefits | 4,268,318 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,274,435 |
| Non-operating Income & (Expense) | 768,774 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 603,801 |
| Cost of Funds | 399,142 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 416,436 |
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