Dec, 31, 2023 — SARATOGA'S COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in SARATOGA SPRINGS, NY with 2 branch locations and about $55.20 million in total assets. Opened 79 years ago in 1945, SARATOGA'S COMMUNITY FEDERAL CREDIT UNION has about 5,289 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SARATOGA'S COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 23 Division St SARATOGA SPRINGS, NY 12866-2113 |
| Phone: | (518) 583-2323 |
| Fax: | (518) 583-9143 |
| Website: | https://saratogafcu.org |
| Branches: | 2 branch locations |
| Members: | 5,289 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5252 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1945 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $55,203,968 |
| CEO/Manager: | Donald Denofio |
| Chairperson: | Jane Decoteau |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 390,059 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 35,579,774 |
| Unsecured Loans | 5,999,747 |
| Other Loans | 10,384,960 |
| TOTAL LOANS | 51,964,481 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -142,197 |
| Land And Building | 292,949 |
| Other Fixed Assets | 34,476 |
| NCUSIF Deposit | 516,892 |
| All Other Assets | 0 |
| TOTAL ASSETS | 55,203,968 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 21,305 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,001,812 |
| Regular shares | 26,421,995 |
| All Other Shares & Deposits | 9,893,347 |
| TOTAL SHARES & DEPOSITS | 51,317,154 |
| TOTAL LIABILITIES | 51,338,459 |
| Regular Reserve | 0 |
| Other Reserves | 1,493,225 |
| Undivided Earnings | 2,372,284 |
| TOTAL EQUITY | 3,865,509 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 55,203,968 |
| INCOME & EXPENSE | |
| Loan Income | 2,391,851 |
| Investment Income | 141,082 |
| Other Income | 275,717 |
| Total Employee Compensation & Benefits | 1,130,512 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,215,765 |
| Non-operating Income & (Expense) | 9,623 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 28,310 |
| Cost of Funds | 145,073 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 616,575 |
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