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ONTARIO SHORES FEDERAL CREDIT UNION

Dec, 31, 2020 — ONTARIO SHORES FEDERAL CREDIT UNION is a federal credit union headquartered in Newfane, NY with 2 branch locations and about $120.68 million in total assets. Opened 60 years ago in 1961, ONTARIO SHORES FEDERAL CREDIT UNION has about 7,634 members and employs 17 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:7,634
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:$120,675,012
CEO/Manager:Mark H Ruppert
Chairperson:Darlene Petschke

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 22,506,277
TOTAL INVESTMENTS 35,419,129
Loans Held for Sale 0
 
 Real Estate Loans 48,009,080
 Unsecured Loans 2,200,383
 Other Loans 11,017,587
 TOTAL LOANS 61,227,050
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -295,470
 Land And Building 452,957
 Other Fixed Assets 36,383
 NCUSIF Deposit 1,000,571
 All Other Assets 328,115
  TOTAL ASSETS 120,675,012
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 826,552
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 29,474,695
 Regular shares 59,911,331
 All Other Shares & Deposits 19,216,076
  TOTAL SHARES & DEPOSITS 108,602,102
  TOTAL LIABILITIES 109,428,654
 Regular Reserve 819,201
 Other Reserves 13,934
 Undivided Earnings 10,413,223
  TOTAL EQUITY 11,246,358
  TOTAL LIABILITIES, SHARES, & EQUITY 120,675,012
INCOME & EXPENSE  
 Loan Income 2,298,884
 Investment Income 854,206
 Other Income 538,946
 Total Employee Compensation & Benefits 1,083,700
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,219,092
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 63,759
 Cost of Funds 178,211
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,147,274
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