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ITALO-AMERICAN FEDERAL CREDIT UNION

Dec, 31, 2020 — ITALO-AMERICAN FEDERAL CREDIT UNION is a federal credit union headquartered in Glendale, NY with 1 branch location and about $27.91 million in total assets. Opened 86 years ago in 1935, ITALO-AMERICAN FEDERAL CREDIT UNION has about 592 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:592
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:$27,907,367
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 3,941,527
TOTAL INVESTMENTS 2,729,012
Loans Held for Sale 0
 
 Real Estate Loans 18,968,349
 Unsecured Loans 0
 Other Loans 460,701
 TOTAL LOANS 19,429,050
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -19,213
 Land And Building 1,570,254
 Other Fixed Assets 35,907
 NCUSIF Deposit 189,420
 All Other Assets 31,410
  TOTAL ASSETS 27,907,367
LIABILITIES & CAPITAL:  
 Dividends Payable 216,588
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 119,058
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,765
 Regular shares 14,357,393
 All Other Shares & Deposits 9,793,745
  TOTAL SHARES & DEPOSITS 24,162,903
  TOTAL LIABILITIES 24,498,549
 Regular Reserve 307,605
 Other Reserves 200,000
 Undivided Earnings 2,901,213
  TOTAL EQUITY 3,408,818
  TOTAL LIABILITIES, SHARES, & EQUITY 27,907,367
INCOME & EXPENSE  
 Loan Income 723,526
 Investment Income 74,628
 Other Income 43,317
 Total Employee Compensation & Benefits 173,020
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 138,169
 Non-operating Income & (Expense) 82,416
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 336,060
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 276,638
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