Dec, 31, 2020 — VAN CORTLANDT COOPERATIVE FEDERAL CREDIT UNION is a federal credit union headquartered in BRONX, NY with 1 branch location and about $64.90 million in total assets. Opened 85 years ago in 1936, VAN CORTLANDT COOPERATIVE FEDERAL CREDIT UNION has about 2,906 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VAN CORTLANDT COOPERATIVE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3960B HILLMAN AVENUE BRONX, NY 10463 |
| Phone: | (718) 549-5858 |
| Fax: | (718) 549-2921 |
| Website: | http://www.vccfcu.com |
| Branches: | 1 branch locations |
| Members: | 2,906 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1125 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Sep 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $64,902,409 |
| CEO/Manager: | Mirela Alexe |
| Chairperson: | Andrew Kimerling |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,733,157 |
| TOTAL INVESTMENTS | 38,556,318 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,896,291 |
| Unsecured Loans | 1,185,806 |
| Other Loans | 2,961,663 |
| TOTAL LOANS | 14,043,760 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -112,275 |
| Land And Building | 0 |
| Other Fixed Assets | 10,985 |
| NCUSIF Deposit | 591,225 |
| All Other Assets | 2,079,239 |
| TOTAL ASSETS | 64,902,409 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 101,616 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 63,159 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,753,961 |
| Regular shares | 40,586,437 |
| All Other Shares & Deposits | 10,307,866 |
| TOTAL SHARES & DEPOSITS | 60,648,264 |
| TOTAL LIABILITIES | 60,813,039 |
| Regular Reserve | 1,683,921 |
| Other Reserves | -481,548 |
| Undivided Earnings | 2,886,997 |
| TOTAL EQUITY | 4,089,370 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 64,902,409 |
| INCOME & EXPENSE | |
| Loan Income | 849,542 |
| Investment Income | 579,496 |
| Other Income | 170,356 |
| Total Employee Compensation & Benefits | 521,170 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 583,281 |
| Non-operating Income & (Expense) | -3,098 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 110,000 |
| Cost of Funds | 79,366 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 302,479 |
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