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GRIFFITH INSTITUTE EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — GRIFFITH INSTITUTE EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Springville, NY with 1 branch location and about $4.78 million in total assets. Opened 60 years ago in 1961, GRIFFITH INSTITUTE EMPLOYEES FEDERAL CREDIT UNION has about 580 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:GRIFFITH INSTITUTE EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
64 East Main Street, Suite 3
Springville, NY 14141
Phone:(716) 592-9887
Fax:(716) 592-9887
Website:http://www.springvillefcu.org
Branches:1 branch locations
Members:580
Credit Union Type:Federal Credit Union
Charter Number:14505
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1961
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$4,776,327
CEO/Manager:Sue Bialasik
Chairperson:Diane Brady

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 774,302
TOTAL INVESTMENTS 2,075,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 768,439
 Other Loans 1,128,445
 TOTAL LOANS 1,896,884
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -26,642
 Land And Building 0
 Other Fixed Assets 2,399
 NCUSIF Deposit 36,170
 All Other Assets 18,214
  TOTAL ASSETS 4,776,327
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,145
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,588,893
 All Other Shares & Deposits 677,408
  TOTAL SHARES & DEPOSITS 4,266,301
  TOTAL LIABILITIES 4,271,446
 Regular Reserve 27,669
 Other Reserves 0
 Undivided Earnings 477,212
  TOTAL EQUITY 504,881
  TOTAL LIABILITIES, SHARES, & EQUITY 4,776,327
INCOME & EXPENSE  
 Loan Income 80,098
 Investment Income 38,045
 Other Income 583
 Total Employee Compensation & Benefits 35,900
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 27,583
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 33,901
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 21,342
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