Dec, 31, 2023 — ED-MED FEDERAL CREDIT UNION is a federal credit union headquartered in OGDENSBURG, NY with 1 branch location and about $29.72 million in total assets. Opened 65 years ago in 1959, ED-MED FEDERAL CREDIT UNION has about 2,084 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ED-MED FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 601 FORD ST OGDENSBURG, NY 13669 |
| Phone: | (315) 393-2873 |
| Fax: | (315) 393-2880 |
| Website: | https://edmedfcu.com |
| Branches: | 1 branch locations |
| Members: | 2,084 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13186 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,720,336 |
| CEO/Manager: | MICHAEL S BRASHAW |
| Chairperson: | JEFFREY A SMITH |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 239,879 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 2,512,644 |
| Other Loans | 9,961,717 |
| TOTAL LOANS | 12,474,361 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -32,927 |
| Land And Building | 133,082 |
| Other Fixed Assets | 50,311 |
| NCUSIF Deposit | 282,369 |
| All Other Assets | 0 |
| TOTAL ASSETS | 29,720,336 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 42,292 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,693 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,732,596 |
| Regular shares | 13,769,352 |
| All Other Shares & Deposits | 10,603,668 |
| TOTAL SHARES & DEPOSITS | 26,105,616 |
| TOTAL LIABILITIES | 26,163,601 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,556,735 |
| TOTAL EQUITY | 3,556,735 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,720,336 |
| INCOME & EXPENSE | |
| Loan Income | 536,977 |
| Investment Income | 455,449 |
| Other Income | 13,667 |
| Total Employee Compensation & Benefits | 274,475 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 169,825 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,786 |
| Cost of Funds | 218,202 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 342,892 |
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» See also Statement of Financial Condition