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ONTARIO SHORES FEDERAL CREDIT UNION

Mar, 31, 2021 — ONTARIO SHORES FEDERAL CREDIT UNION is a federal credit union headquartered in Newfane, NY with 2 branch locations and about $130.43 million in total assets. Opened 60 years ago in 1961, ONTARIO SHORES FEDERAL CREDIT UNION has about 7,732 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ONTARIO SHORES FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 9
Newfane, NY 14108-0009
Phone:(716) 778-7423
Fax:(716) 778-8010
Website:http://www.osfcu.com
Branches:2 branch locations
Members:7,732
Credit Union Type:Federal Credit Union
Charter Number:14462
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1961
Last Audited:Jul 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$130,428,470
CEO/Manager:Mark H Ruppert
Chairperson:Timothy Lanighan

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 33,469,748
TOTAL INVESTMENTS 33,416,129
Loans Held for Sale 0
 
 Real Estate Loans 48,630,014
 Unsecured Loans 2,010,061
 Other Loans 11,373,906
 TOTAL LOANS 62,013,981
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -299,021
 Land And Building 442,574
 Other Fixed Assets 28,527
 NCUSIF Deposit 1,000,571
 All Other Assets 355,961
  TOTAL ASSETS 130,428,470
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 712,040
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 31,832,547
 Regular shares 65,936,370
 All Other Shares & Deposits 20,424,124
  TOTAL SHARES & DEPOSITS 118,193,041
  TOTAL LIABILITIES 118,905,081
 Regular Reserve 819,201
 Other Reserves 14,987
 Undivided Earnings 10,689,201
  TOTAL EQUITY 11,523,389
  TOTAL LIABILITIES, SHARES, & EQUITY 130,428,470
INCOME & EXPENSE  
 Loan Income 599,115
 Investment Income 170,028
 Other Income 59,115
 Total Employee Compensation & Benefits 298,906
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 323,270
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 37,130
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 275,849
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