Dec, 31, 2023 — ULSTER FEDERAL CREDIT UNION is a federal credit union headquartered in KINGSTON, NY with 3 branch locations and about $157.66 million in total assets. Opened 50 years ago in 1974, ULSTER FEDERAL CREDIT UNION has about 7,353 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ULSTER FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 127 Schwenk Dr KINGSTON, NY 12401 |
| Phone: | (845) 339-5544 |
| Fax: | (845) 331-0331 |
| Website: | https://www.ulsfedcu.org |
| Branches: | 3 branch locations |
| Members: | 7,353 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21694 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $157,657,508 |
| CEO/Manager: | William Querbes |
| Chairperson: | Linda Akins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,151,030 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,912,079 |
| Unsecured Loans | 3,880,544 |
| Other Loans | 22,280,307 |
| TOTAL LOANS | 44,072,930 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,374,211 |
| Land And Building | 1,810,846 |
| Other Fixed Assets | 389,825 |
| NCUSIF Deposit | 1,513,883 |
| All Other Assets | 297,226 |
| TOTAL ASSETS | 157,657,508 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 225,432 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 37,554,069 |
| Regular shares | 84,384,410 |
| All Other Shares & Deposits | 29,855,328 |
| TOTAL SHARES & DEPOSITS | 151,793,807 |
| TOTAL LIABILITIES | 152,019,239 |
| Regular Reserve | 0 |
| Other Reserves | -8,406,866 |
| Undivided Earnings | 14,045,135 |
| TOTAL EQUITY | 5,638,269 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 157,657,508 |
| INCOME & EXPENSE | |
| Loan Income | 2,232,946 |
| Investment Income | 3,493,350 |
| Other Income | 707,901 |
| Total Employee Compensation & Benefits | 2,176,051 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,116,079 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 892,922 |
| Cost of Funds | 187,346 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,544,671 |
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