Sep, 30, 2021 — M. C. T. FEDERAL CREDIT UNION is a federal credit union headquartered in AMSTERDAM, NY with 1 branch location and about $66.93 million in total assets. Opened 62 years ago in 1960, M. C. T. FEDERAL CREDIT UNION has about 3,399 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: | 3,399 |
| 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, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $66,926,800 |
| CEO/Manager: | PATTY MACEK |
| Chairperson: | STUART PALCZAK |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 34,432,990 |
| TOTAL INVESTMENTS | 23,349,170 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,474,579 |
| Unsecured Loans | 1,040,077 |
| Other Loans | 2,999,745 |
| TOTAL LOANS | 7,514,401 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -30,993 |
| Land And Building | 951,614 |
| Other Fixed Assets | 32,240 |
| NCUSIF Deposit | 551,609 |
| All Other Assets | 125,769 |
| TOTAL ASSETS | 66,926,800 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,222 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 98,634 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,232,349 |
| Regular shares | 48,587,153 |
| All Other Shares & Deposits | 1,519,595 |
| TOTAL SHARES & DEPOSITS | 60,339,097 |
| TOTAL LIABILITIES | 60,438,953 |
| Regular Reserve | 990,552 |
| Other Reserves | 0 |
| Undivided Earnings | 5,497,295 |
| TOTAL EQUITY | 6,487,847 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 66,926,800 |
| INCOME & EXPENSE | |
| Loan Income | 258,142 |
| Investment Income | 385,296 |
| Other Income | 35,440 |
| Total Employee Compensation & Benefits | 362,187 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 305,588 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,000 |
| Cost of Funds | 56,343 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 265,512 |
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