Dec, 31, 2020 — M. C. T. FEDERAL CREDIT UNION is a federal credit union headquartered in AMSTERDAM, NY with 1 branch location and about $62.20 million in total assets. Opened 61 years ago in 1960, M. C. T. FEDERAL CREDIT UNION has about 3,491 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | M. C. T. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 39 MARKET ST AMSTERDAM, NY 12010 |
| Phone: | (518) 842-1840 |
| Fax: | (518) 842-3955 |
| Website: | http://mct-fcu.org |
| Branches: | 1 branch locations |
| Members: | 3,491 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13766 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Sep 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $62,196,741 |
| CEO/Manager: | PATTY MACEK |
| Chairperson: | STUART PALCZAK |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,091,074 |
| TOTAL INVESTMENTS | 27,810,170 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,338,177 |
| Unsecured Loans | 1,238,655 |
| Other Loans | 3,608,076 |
| TOTAL LOANS | 8,184,908 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -41,677 |
| Land And Building | 435,164 |
| Other Fixed Assets | 41,111 |
| NCUSIF Deposit | 539,034 |
| All Other Assets | 136,957 |
| TOTAL ASSETS | 62,196,741 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 961 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 101,903 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,723,044 |
| Regular shares | 44,949,596 |
| All Other Shares & Deposits | 1,198,902 |
| TOTAL SHARES & DEPOSITS | 55,871,542 |
| TOTAL LIABILITIES | 55,974,406 |
| Regular Reserve | 990,552 |
| Other Reserves | 0 |
| Undivided Earnings | 5,231,783 |
| TOTAL EQUITY | 6,222,335 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 62,196,741 |
| INCOME & EXPENSE | |
| Loan Income | 396,252 |
| Investment Income | 761,720 |
| Other Income | 123,283 |
| Total Employee Compensation & Benefits | 472,487 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 358,414 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 67,351 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 383,003 |
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