Sep, 30, 2021 — TCT FEDERAL CREDIT UNION is a federal credit union headquartered in BALLSTON SPA, NY with 4 branch locations and about $279.81 million in total assets. Opened 62 years ago in 1959, TCT FEDERAL CREDIT UNION has about 14,066 members and employs 66 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TCT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 416 ROWLAND ST BALLSTON SPA, NY 12020 |
| Phone: | (518) 884-7002 |
| Fax: | (518) 884-7094 |
| Website: | https://www.tctfcu.org |
| Branches: | 4 branch locations |
| Members: | 14,066 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12957 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $279,807,798 |
| CEO/Manager: | Curt A Cecala |
| Chairperson: | Peter Trombley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,077,174 |
| TOTAL INVESTMENTS | 58,497,091 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 126,810,722 |
| Unsecured Loans | 26,188,293 |
| Other Loans | 53,668,525 |
| TOTAL LOANS | 206,689,644 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,249,819 |
| Land And Building | 4,175,999 |
| Other Fixed Assets | 354,437 |
| NCUSIF Deposit | 2,254,269 |
| All Other Assets | 6,009,003 |
| TOTAL ASSETS | 279,807,798 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,491 |
| Notes & Interest Payable | 4,838,564 |
| Accounts Payable & Other Liabilities | 1,780,530 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 41,994,992 |
| Regular shares | 84,947,314 |
| All Other Shares & Deposits | 123,643,995 |
| TOTAL SHARES & DEPOSITS | 250,586,301 |
| TOTAL LIABILITIES | 257,208,886 |
| Regular Reserve | 1,776,546 |
| Other Reserves | 432,943 |
| Undivided Earnings | 20,389,423 |
| TOTAL EQUITY | 22,598,912 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 279,807,798 |
| INCOME & EXPENSE | |
| Loan Income | 6,108,328 |
| Investment Income | 563,003 |
| Other Income | 233,096 |
| Total Employee Compensation & Benefits | 3,431,574 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,449,834 |
| Non-operating Income & (Expense) | 868,206 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 115,000 |
| Cost of Funds | 599,092 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,133,111 |
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