Dec, 31, 2023 — SPECIAL METALS FEDERAL CREDIT UNION is a federal credit union headquartered in NEW HARTFORD, NY with 1 branch location and about $14.55 million in total assets. Opened 63 years ago in 1961, SPECIAL METALS FEDERAL CREDIT UNION has about 1,091 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.
| Name: | SPECIAL METALS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4340 Middle Settlement Rd NEW HARTFORD, NY 13413-5316 |
| Phone: | (315) 797-3575 |
| Fax: | (315) 797-1380 |
| Website: | https://www.specialmetalsfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,091 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14522 |
|---|---|
| Membership Type: | Multiple common bond - Primarily primary and fabricated metals |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Jul 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $14,548,851 |
| CEO/Manager: | Jaime S McCloskey |
| Chairperson: | Gary R Miller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 935,012 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,239,476 |
| Unsecured Loans | 1,299,480 |
| Other Loans | 9,389,120 |
| TOTAL LOANS | 11,928,076 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -125,470 |
| Land And Building | 672,277 |
| Other Fixed Assets | 82,589 |
| NCUSIF Deposit | 117,601 |
| All Other Assets | 93,000 |
| TOTAL ASSETS | 14,548,851 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 12,606 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,604,452 |
| Regular shares | 6,941,592 |
| All Other Shares & Deposits | 3,225,024 |
| TOTAL SHARES & DEPOSITS | 12,771,068 |
| TOTAL LIABILITIES | 12,783,674 |
| Regular Reserve | 0 |
| Other Reserves | 458,286 |
| Undivided Earnings | 1,306,891 |
| TOTAL EQUITY | 1,765,177 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 14,548,851 |
| INCOME & EXPENSE | |
| Loan Income | 556,600 |
| Investment Income | 57,902 |
| Other Income | 22,741 |
| Total Employee Compensation & Benefits | 226,984 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 286,892 |
| Non-operating Income & (Expense) | 12,953 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 120,000 |
| Cost of Funds | 35,173 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 37,298 |
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