Dec, 31, 2023 — ITALO-AMERICAN FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, NY with 1 branch location and about $40.09 million in total assets. Opened 89 years ago in 1935, ITALO-AMERICAN FEDERAL CREDIT UNION has about 557 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 |
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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: | 557 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 110 |
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Membership Type: | Associational - Other than religious or fraternal, or 'low-income' |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $40,086,382 |
CEO/Manager: | Maria Heidenreich |
Chairperson: | Craig J Montalbano |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,977,370 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 29,436,765 |
Unsecured Loans | 0 |
Other Loans | 318,394 |
TOTAL LOANS | 29,755,159 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -56,560 |
Land And Building | 1,392,287 |
Other Fixed Assets | 15,508 |
NCUSIF Deposit | 253,640 |
All Other Assets | 0 |
TOTAL ASSETS | 40,086,382 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 352,405 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 147,929 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 87,306 |
Regular shares | 16,455,377 |
All Other Shares & Deposits | 17,841,740 |
TOTAL SHARES & DEPOSITS | 34,384,424 |
TOTAL LIABILITIES | 34,884,758 |
Regular Reserve | 0 |
Other Reserves | 507,605 |
Undivided Earnings | 4,694,019 |
TOTAL EQUITY | 5,201,624 |
TOTAL LIABILITIES, SHARES, & EQUITY | 40,086,382 |
INCOME & EXPENSE | |
Loan Income | 1,277,576 |
Investment Income | 232,310 |
Other Income | 6,953 |
Total Employee Compensation & Benefits | 222,841 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 175,806 |
Non-operating Income & (Expense) | 44,600 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 22,416 |
Cost of Funds | 1,052,753 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 108,227 |
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» See also Statement of Financial Condition