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ITALO-AMERICAN FEDERAL CREDIT UNION

Dec, 31, 2023 — ITALO-AMERICAN FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, NY with 1 branch location and about $40.09 million in total assets. Opened 89 years ago in 1935, ITALO-AMERICAN FEDERAL CREDIT UNION has about 557 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 226075673
Name:ITALO-AMERICAN FEDERAL CREDIT UNION
Address:
(Main Office)
6652 Myrtle Ave
GLENDALE, NY 11385-7057
Phone:(718) 366-6422
Fax:(718) 821-3932
Website:https://www.italoamericanfcu.com
Branches:1 branch locations
Members:557
Credit Union Type:Federal Credit Union
Charter Number:110
Membership Type:Associational - Other than religious or fraternal, or 'low-income'
Corporate Credit Union:No
Year Opened:1935
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$40,086,382
CEO/Manager:Maria Heidenreich
Chairperson:Craig J Montalbano

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,977,370
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 29,436,765
 Unsecured Loans 0
 Other Loans 318,394
 TOTAL LOANS 29,755,159
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -56,560
 Land And Building 1,392,287
 Other Fixed Assets 15,508
 NCUSIF Deposit 253,640
 All Other Assets 0
  TOTAL ASSETS 40,086,382
LIABILITIES & CAPITAL:  
 Dividends Payable 352,405
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 147,929
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 87,306
 Regular shares 16,455,377
 All Other Shares & Deposits 17,841,740
  TOTAL SHARES & DEPOSITS 34,384,424
  TOTAL LIABILITIES 34,884,758
 Regular Reserve 0
 Other Reserves 507,605
 Undivided Earnings 4,694,019
  TOTAL EQUITY 5,201,624
  TOTAL LIABILITIES, SHARES, & EQUITY 40,086,382
INCOME & EXPENSE  
 Loan Income 1,277,576
 Investment Income 232,310
 Other Income 6,953
 Total Employee Compensation & Benefits 222,841
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 175,806
 Non-operating Income & (Expense) 44,600
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 22,416
 Cost of Funds 1,052,753
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 108,227
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