Dec, 31, 2023 — ONTARIO SHORES FEDERAL CREDIT UNION is a federal credit union headquartered in NEWFANE, NY with 2 branch locations and about $145.43 million in total assets. Opened 63 years ago in 1961, ONTARIO SHORES FEDERAL CREDIT UNION has about 8,598 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ONTARIO SHORES FEDERAL CREDIT UNION |
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Address: (Main Office) | 2890 Transit Rd NEWFANE, NY 14108-9740 |
Phone: | (716) 778-7423 |
Fax: | (716) 778-8010 |
Website: | https://www.osfcu.com |
Branches: | 2 branch locations |
Members: | 8,598 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 14462 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1961 |
Last Audited: | Jul 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $145,429,626 |
CEO/Manager: | Jeffrey Bell |
Chairperson: | Joseph Breczka |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,712,637 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 58,047,656 |
Unsecured Loans | 3,244,071 |
Other Loans | 20,837,665 |
TOTAL LOANS | 82,129,392 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -460,079 |
Land And Building | 2,070,840 |
Other Fixed Assets | 3,625 |
NCUSIF Deposit | 1,231,614 |
All Other Assets | 0 |
TOTAL ASSETS | 145,429,626 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 4,597 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 934,380 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 34,203,755 |
Regular shares | 68,106,300 |
All Other Shares & Deposits | 26,210,478 |
TOTAL SHARES & DEPOSITS | 128,520,533 |
TOTAL LIABILITIES | 129,459,510 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 15,970,116 |
TOTAL EQUITY | 15,970,116 |
TOTAL LIABILITIES, SHARES, & EQUITY | 145,429,626 |
INCOME & EXPENSE | |
Loan Income | 3,607,648 |
Investment Income | 1,576,502 |
Other Income | 400,781 |
Total Employee Compensation & Benefits | 1,835,962 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,048,241 |
Non-operating Income & (Expense) | 10,310 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 161,315 |
Cost of Funds | 405,004 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,763,381 |
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