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UTICA GAS & ELECTRIC EMP FEDERAL CREDIT UNION

Dec, 31, 2023 — UTICA GAS & ELECTRIC EMP FEDERAL CREDIT UNION is a federal credit union headquartered in NEW HARTFORD, NY with 1 branch location and about $105.37 million in total assets. Opened 87 years ago in 1937, UTICA GAS & ELECTRIC EMP FEDERAL CREDIT UNION has about 3,447 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:UTICA GAS & ELECTRIC EMP FEDERAL CREDIT UNION
Address:
(Main Office)
215 Old Campion Rd
NEW HARTFORD, NY 13413-4953
Phone:(315) 733-1596
Fax:(315) 733-0228
Website:https://ugefcu.com
Branches:1 branch locations
Members:3,447
Credit Union Type:Federal Credit Union
Charter Number:2252
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1937
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$105,367,615
CEO/Manager:Lori Brown
Chairperson:Theodore Pytel Jr.

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 814,296
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 61,453,780
 Unsecured Loans 6,968,097
 Other Loans 17,095,676
 TOTAL LOANS 85,517,553
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -330,537
 Land And Building 1,385,998
 Other Fixed Assets 61,232
 NCUSIF Deposit 729,095
 All Other Assets 0
  TOTAL ASSETS 105,367,615
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 10,527,241
 Accounts Payable & Other Liabilities -1,901,015
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 12,049,705
 Regular shares 15,907,718
 All Other Shares & Deposits 52,906,922
  TOTAL SHARES & DEPOSITS 80,864,346
  TOTAL LIABILITIES 89,490,572
 Regular Reserve 0
 Other Reserves -1,572,045
 Undivided Earnings 17,449,088
  TOTAL EQUITY 15,877,043
  TOTAL LIABILITIES, SHARES, & EQUITY 105,367,615
INCOME & EXPENSE  
 Loan Income 3,822,123
 Investment Income 622,730
 Other Income 35,199
 Total Employee Compensation & Benefits 724,847
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,011,713
 Non-operating Income & (Expense) -18,251
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 50,000
 Cost of Funds 1,769,392
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,418,853
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