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 |
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