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 |
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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 |
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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 |
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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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