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SUFFOLK FEDERAL CREDIT UNION

Dec, 31, 2023 — SUFFOLK FEDERAL CREDIT UNION is a federal credit union headquartered in MEDFORD, NY with 10 branch locations and about $1.78 billion in total assets. Opened 57 years ago in 1967, SUFFOLK FEDERAL CREDIT UNION has about 69,979 members and employs 196 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: 221481181
Name:SUFFOLK FEDERAL CREDIT UNION
Address:
(Main Office)
3681 Horseblock Rd
MEDFORD, NY 11763-2242
Phone:(631) 924-8000
Fax:(631) 396-1246
Website:https://www.suffolkcu.org
Branches:10 branch locations
Members:69,979
Credit Union Type:Federal Credit Union
Charter Number:17914
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1967
Last Audited:Dec 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$1,777,006,954
CEO/Manager:Michele Dean
Chairperson:James J Maggio, Jr.

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 118,992,384
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 848,688,574
 Unsecured Loans 39,544,356
 Other Loans 287,645,089
 TOTAL LOANS 1,175,878,020
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -7,722,469
 Land And Building 6,028,314
 Other Fixed Assets 3,539,294
 NCUSIF Deposit 14,664,638
 All Other Assets 0
  TOTAL ASSETS 1,777,006,954
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 99,725,000
 Accounts Payable & Other Liabilities 24,002,657
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 275,462,502
 Regular shares 562,621,859
 All Other Shares & Deposits 724,352,099
  TOTAL SHARES & DEPOSITS 1,562,436,461
  TOTAL LIABILITIES 1,686,164,118
 Regular Reserve 0
 Other Reserves -61,040,945
 Undivided Earnings 151,883,781
  TOTAL EQUITY 90,842,836
  TOTAL LIABILITIES, SHARES, & EQUITY 1,777,006,954
INCOME & EXPENSE  
 Loan Income 52,282,978
 Investment Income 13,646,167
 Other Income 3,851,638
 Total Employee Compensation & Benefits 21,282,009
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 20,162,726
 Non-operating Income & (Expense) -179,598
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,914,325
 Cost of Funds 21,650,588
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 11,002,122
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