Dec, 31, 2020 — TCT FEDERAL CREDIT UNION is a federal credit union headquartered in BALLSTON SPA, NY with 4 branch locations and about $268.04 million in total assets. Opened 62 years ago in 1959, TCT FEDERAL CREDIT UNION has about 13,781 members and employs 68 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: | 13,781 |
| 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, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $268,037,865 |
| CEO/Manager: | Curt A Cecala |
| Chairperson: | Peter Trombley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,152,522 |
| TOTAL INVESTMENTS | 55,313,645 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 113,915,638 |
| Unsecured Loans | 27,351,815 |
| Other Loans | 49,816,909 |
| TOTAL LOANS | 191,111,750 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,227,549 |
| Land And Building | 4,270,249 |
| Other Fixed Assets | 420,400 |
| NCUSIF Deposit | 2,131,050 |
| All Other Assets | 5,865,798 |
| TOTAL ASSETS | 268,037,865 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,000 |
| Notes & Interest Payable | 6,344,841 |
| Accounts Payable & Other Liabilities | 2,022,770 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 38,991,869 |
| Regular shares | 74,547,580 |
| All Other Shares & Deposits | 124,921,808 |
| TOTAL SHARES & DEPOSITS | 238,461,257 |
| TOTAL LIABILITIES | 246,835,868 |
| Regular Reserve | 1,776,546 |
| Other Reserves | 1,169,138 |
| Undivided Earnings | 18,256,313 |
| TOTAL EQUITY | 21,201,997 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 268,037,865 |
| INCOME & EXPENSE | |
| Loan Income | 8,226,282 |
| Investment Income | 901,184 |
| Other Income | 1,476,170 |
| Total Employee Compensation & Benefits | 4,173,493 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,107,122 |
| Non-operating Income & (Expense) | -18,831 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 497,050 |
| Cost of Funds | 1,482,992 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,324,148 |
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