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ITALO-AMERICAN FEDERAL CREDIT UNION

Mar, 31, 2021 — ITALO-AMERICAN FEDERAL CREDIT UNION is a federal credit union headquartered in Glendale, NY with 1 branch location and about $28.68 million in total assets. Opened 86 years ago in 1935, ITALO-AMERICAN FEDERAL CREDIT UNION has about 610 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.


ABA Routing Number: 226075673
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:http://www.italoamericanfcu.com
Branches:1 branch locations
Members:610
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$28,682,742
CEO/Manager:Maria Heidenreich
Chairperson:Jack Caliendo

Call Report

  • Commercial Loans
  • Real Estate Loans
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,112,642
TOTAL INVESTMENTS 1,986,624
Loans Held for Sale 0
 
 Real Estate Loans 19,526,414
 Unsecured Loans 0
 Other Loans 322,140
 TOTAL LOANS 19,848,554
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,847
 Land And Building 1,512,487
 Other Fixed Assets 33,946
 NCUSIF Deposit 189,420
 All Other Assets 24,916
  TOTAL ASSETS 28,682,742
LIABILITIES & CAPITAL:  
 Dividends Payable 178,363
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 110,766
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 16,237
 Regular shares 14,051,450
 All Other Shares & Deposits 9,824,348
  TOTAL SHARES & DEPOSITS 23,892,035
  TOTAL LIABILITIES 24,181,164
 Regular Reserve 307,605
 Other Reserves 200,000
 Undivided Earnings 3,993,973
  TOTAL EQUITY 4,501,578
  TOTAL LIABILITIES, SHARES, & EQUITY 28,682,742
INCOME & EXPENSE  
 Loan Income 193,754
 Investment Income 21,969
 Other Income 1,037
 Total Employee Compensation & Benefits 38,847
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 89,531
 Non-operating Income & (Expense) 1,069,388
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,634
 Cost of Funds 64,574
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,092,761
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