Dec, 31, 2023 — GENESEE VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in GENESEO, NY with 4 branch locations and about $142.21 million in total assets. Opened 50 years ago in 1974, GENESEE VALLEY FEDERAL CREDIT UNION has about 9,676 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GENESEE VALLEY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4621 Millennium Dr GENESEO, NY 14454 |
| Phone: | (585) 243-1500 |
| Fax: | (585) 243-4143 |
| Website: | https://www.geneseevalleyfcu.com |
| Branches: | 4 branch locations |
| Members: | 9,676 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21658 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $142,209,004 |
| CEO/Manager: | Gerard Koehler |
| Chairperson: | Daniel R Johnson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,372,114 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 52,918,224 |
| Unsecured Loans | 5,424,542 |
| Other Loans | 31,381,085 |
| TOTAL LOANS | 89,833,896 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -498,916 |
| Land And Building | 1,427,350 |
| Other Fixed Assets | 174,623 |
| NCUSIF Deposit | 1,227,710 |
| All Other Assets | 0 |
| TOTAL ASSETS | 142,209,004 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,324,598 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 30,909,937 |
| Regular shares | 57,512,018 |
| All Other Shares & Deposits | 33,100,350 |
| TOTAL SHARES & DEPOSITS | 121,522,305 |
| TOTAL LIABILITIES | 122,846,903 |
| Regular Reserve | 0 |
| Other Reserves | 1,525,172 |
| Undivided Earnings | 17,836,929 |
| TOTAL EQUITY | 19,362,101 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 142,209,004 |
| INCOME & EXPENSE | |
| Loan Income | 4,851,041 |
| Investment Income | 2,010,747 |
| Other Income | 185,193 |
| Total Employee Compensation & Benefits | 2,633,127 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,877,227 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 206,352 |
| Cost of Funds | 499,081 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,283,826 |
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