Dec, 31, 2023 — TCT FEDERAL CREDIT UNION is a federal credit union headquartered in BALLSTON SPA, NY with 4 branch locations and about $289.93 million in total assets. Opened 65 years ago in 1959, TCT FEDERAL CREDIT UNION has about 14,382 members and employs 69 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TCT FEDERAL CREDIT UNION |
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Address: (Main Office) | 416 Rowland St BALLSTON SPA, NY 12020 |
Phone: | (518) 884-7002 |
Fax: | (518) 884-7094 |
Website: | https://www.tctfcu.org |
Branches: | 4 branch locations |
Members: | 14,382 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12957 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $289,927,225 |
CEO/Manager: | Curt A Cecala |
Chairperson: | Peter Trombley |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,747,967 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 130,821,196 |
Unsecured Loans | 31,686,581 |
Other Loans | 65,661,269 |
TOTAL LOANS | 228,174,781 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -774,739 |
Land And Building | 3,893,248 |
Other Fixed Assets | 157,334 |
NCUSIF Deposit | 2,422,364 |
All Other Assets | 0 |
TOTAL ASSETS | 289,927,225 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 35,772 |
Notes & Interest Payable | 29,100,000 |
Accounts Payable & Other Liabilities | 992,094 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 44,846,847 |
Regular shares | 84,741,146 |
All Other Shares & Deposits | 111,299,704 |
TOTAL SHARES & DEPOSITS | 240,887,697 |
TOTAL LIABILITIES | 271,015,563 |
Regular Reserve | 0 |
Other Reserves | -6,625,502 |
Undivided Earnings | 25,537,164 |
TOTAL EQUITY | 18,911,662 |
TOTAL LIABILITIES, SHARES, & EQUITY | 289,927,225 |
INCOME & EXPENSE | |
Loan Income | 10,127,025 |
Investment Income | 1,165,114 |
Other Income | 635,367 |
Total Employee Compensation & Benefits | 5,350,952 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,274,149 |
Non-operating Income & (Expense) | 136,645 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 38,700 |
Cost of Funds | 3,480,391 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 692,796 |
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