Sep, 30, 2022 — TCT FEDERAL CREDIT UNION is a federal credit union headquartered in BALLSTON SPA, NY with 4 branch locations and about $296.73 million in total assets. Opened 64 years ago in 1959, TCT FEDERAL CREDIT UNION has about 14,239 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: | 14,239 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $296,727,454 |
| CEO/Manager: | Curt A Cecala |
| Chairperson: | Peter Trombley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,088,528 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 186,434 |
| Real Estate Loans | 135,120,471 |
| Unsecured Loans | 28,921,629 |
| Other Loans | 62,428,540 |
| TOTAL LOANS | 226,485,517 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,104,489 |
| Land And Building | 4,050,331 |
| Other Fixed Assets | 293,376 |
| NCUSIF Deposit | 2,405,665 |
| All Other Assets | 0 |
| TOTAL ASSETS | 296,727,454 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 38,296 |
| Notes & Interest Payable | 20,514,075 |
| Accounts Payable & Other Liabilities | 1,621,963 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 45,212,572 |
| Regular shares | 91,966,519 |
| All Other Shares & Deposits | 120,847,495 |
| TOTAL SHARES & DEPOSITS | 258,026,586 |
| TOTAL LIABILITIES | 280,200,920 |
| Regular Reserve | 0 |
| Other Reserves | -7,816,357 |
| Undivided Earnings | 24,342,891 |
| TOTAL EQUITY | 16,526,534 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 296,727,454 |
| INCOME & EXPENSE | |
| Loan Income | 6,394,468 |
| Investment Income | 825,394 |
| Other Income | 454,694 |
| Total Employee Compensation & Benefits | 3,708,703 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,929,239 |
| Non-operating Income & (Expense) | 242,546 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 671,555 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,758,712 |
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