Dec, 31, 2023 — TRI-LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in SARANAC LAKE, NY with 2 branch locations and about $26.37 million in total assets. Opened 46 years ago in 1978, TRI-LAKES FEDERAL CREDIT UNION has about 2,171 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRI-LAKES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 197 Broadway SARANAC LAKE, NY 12983 |
| Phone: | (518) 891-1666 |
| Fax: | (518) 891-1797 |
| Website: | https://www.trilakesfcu.com |
| Branches: | 2 branch locations |
| Members: | 2,171 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23198 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1978 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,365,784 |
| CEO/Manager: | Heather L DeForest |
| Chairperson: | Peter Sayles |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,997,184 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,803,076 |
| Unsecured Loans | 1,360,645 |
| Other Loans | 9,423,248 |
| TOTAL LOANS | 12,586,968 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -85,673 |
| Land And Building | 487,595 |
| Other Fixed Assets | 48,691 |
| NCUSIF Deposit | 246,510 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,365,784 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 326,578 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,000,006 |
| Regular shares | 16,640,227 |
| All Other Shares & Deposits | 1,777,776 |
| TOTAL SHARES & DEPOSITS | 23,418,009 |
| TOTAL LIABILITIES | 23,744,587 |
| Regular Reserve | 0 |
| Other Reserves | 742,914 |
| Undivided Earnings | 1,878,283 |
| TOTAL EQUITY | 2,621,197 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,365,784 |
| INCOME & EXPENSE | |
| Loan Income | 680,544 |
| Investment Income | 440,479 |
| Other Income | 248,420 |
| Total Employee Compensation & Benefits | 381,232 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 485,798 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,833 |
| Cost of Funds | 16,725 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 460,487 |
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