Sep, 30, 2025 — ITALO-AMERICAN FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, NY with 1 branch location and about $39.06 million in total assets. Opened 91 years ago in 1935, ITALO-AMERICAN FEDERAL CREDIT UNION has about 599 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ITALO-AMERICAN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 6652 Myrtle Ave GLENDALE, NY 11385-7057 |
| Phone: | (718) 366-6422 |
| Fax: | (718) 821-3932 |
| Website: | https://www.italoamericanfcu.com |
| Branches: | 1 branch locations |
| Members: | 599 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 110 |
|---|---|
| Membership Type: | Associational - Other than religious or fraternal, or 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $39,058,829 |
| CEO/Manager: | Maria Heidenreich |
| Chairperson: | Frank Alesci |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,557,092 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 31,270,061 |
| Unsecured Loans | 0 |
| Other Loans | 713,106 |
| TOTAL LOANS | 31,983,167 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -60,199 |
| Land And Building | 1,311,204 |
| Other Fixed Assets | 9,179 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 270,019 |
| All Other Assets | 0 |
| TOTAL ASSETS | 39,058,829 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 171,317 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 144,904 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 168,562 |
| Regular shares | 17,152,171 |
| All Other Shares & Deposits | 15,640,800 |
| TOTAL SHARES & DEPOSITS | 32,961,532 |
| TOTAL LIABILITIES | 33,277,753 |
| Regular Reserve | 0 |
| Other Reserves | 507,605 |
| Undivided Earnings | 5,273,471 |
| TOTAL EQUITY | 5,781,076 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 39,058,829 |
| INCOME & EXPENSE | |
| Loan Income | 1,297,863 |
| Investment Income | 161,315 |
| Other Income | 9,083 |
| Total Employee Compensation & Benefits | 170,372 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 169,562 |
| Non-operating Income & (Expense) | 34,650 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,639 |
| Cost of Funds | 855,048 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 308,793 |
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