Dec, 31, 2022 — M. C. T. FEDERAL CREDIT UNION is a federal credit union headquartered in AMSTERDAM, NY with 1 branch location and about $69.12 million in total assets. Opened 63 years ago in 1960, M. C. T. FEDERAL CREDIT UNION has about 3,334 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: | https://mct-fcu.org |
| Branches: | 1 branch locations |
| Members: | 3,334 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $69,118,738 |
| CEO/Manager: | PATTY MACEK |
| Chairperson: | STUART PALCZAK |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,841,871 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,481,814 |
| Unsecured Loans | 1,040,895 |
| Other Loans | 3,347,891 |
| TOTAL LOANS | 7,870,600 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,410 |
| Land And Building | 1,203,618 |
| Other Fixed Assets | 22,474 |
| NCUSIF Deposit | 603,334 |
| All Other Assets | 0 |
| TOTAL ASSETS | 69,118,738 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,499 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 92,540 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,447,861 |
| Regular shares | 50,322,213 |
| All Other Shares & Deposits | 1,701,323 |
| TOTAL SHARES & DEPOSITS | 62,471,397 |
| TOTAL LIABILITIES | 62,565,436 |
| Regular Reserve | 0 |
| Other Reserves | 990,553 |
| Undivided Earnings | 5,562,749 |
| TOTAL EQUITY | 6,553,302 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 69,118,738 |
| INCOME & EXPENSE | |
| Loan Income | 234,381 |
| Investment Income | 475,235 |
| Other Income | 39,570 |
| Total Employee Compensation & Benefits | 375,614 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 330,022 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 60,156 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 106,293 |
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