Dec, 31, 2023 — ONTARIO SHORES FEDERAL CREDIT UNION is a federal credit union headquartered in NEWFANE, NY with 2 branch locations and about $145.43 million in total assets. Opened 63 years ago in 1961, ONTARIO SHORES FEDERAL CREDIT UNION has about 8,598 members and employs 23 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) | 2890 Transit Rd NEWFANE, NY 14108-9740 |
| Phone: | (716) 778-7423 |
| Fax: | (716) 778-8010 |
| Website: | https://www.osfcu.com |
| Branches: | 2 branch locations |
| Members: | 8,598 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $145,429,626 |
| CEO/Manager: | Jeffrey Bell |
| Chairperson: | Joseph Breczka |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,712,637 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 58,047,656 |
| Unsecured Loans | 3,244,071 |
| Other Loans | 20,837,665 |
| TOTAL LOANS | 82,129,392 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -460,079 |
| Land And Building | 2,070,840 |
| Other Fixed Assets | 3,625 |
| NCUSIF Deposit | 1,231,614 |
| All Other Assets | 0 |
| TOTAL ASSETS | 145,429,626 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,597 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 934,380 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,203,755 |
| Regular shares | 68,106,300 |
| All Other Shares & Deposits | 26,210,478 |
| TOTAL SHARES & DEPOSITS | 128,520,533 |
| TOTAL LIABILITIES | 129,459,510 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 15,970,116 |
| TOTAL EQUITY | 15,970,116 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 145,429,626 |
| INCOME & EXPENSE | |
| Loan Income | 3,607,648 |
| Investment Income | 1,576,502 |
| Other Income | 400,781 |
| Total Employee Compensation & Benefits | 1,835,962 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,048,241 |
| Non-operating Income & (Expense) | 10,310 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 161,315 |
| Cost of Funds | 405,004 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,763,381 |
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