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GRIFFITH INSTITUTE EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — GRIFFITH INSTITUTE EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Springville, NY with 1 branch location and about $5.14 million in total assets. Opened 60 years ago in 1961, GRIFFITH INSTITUTE EMPLOYEES FEDERAL CREDIT UNION has about 584 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:584
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:$5,144,337
CEO/Manager:Sue Bialasik
Chairperson:Diane Brady

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 723,373
TOTAL INVESTMENTS 2,425,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 880,973
 Other Loans 1,088,796
 TOTAL LOANS 1,969,769
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,167
 Land And Building 0
 Other Fixed Assets 2,120
 NCUSIF Deposit 36,170
 All Other Assets 15,072
  TOTAL ASSETS 5,144,337
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,433
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,935,996
 All Other Shares & Deposits 693,122
  TOTAL SHARES & DEPOSITS 4,629,118
  TOTAL LIABILITIES 4,634,551
 Regular Reserve 27,669
 Other Reserves 0
 Undivided Earnings 482,117
  TOTAL EQUITY 509,786
  TOTAL LIABILITIES, SHARES, & EQUITY 5,144,337
INCOME & EXPENSE  
 Loan Income 18,875
 Investment Income 7,717
 Other Income 149
 Total Employee Compensation & Benefits 8,364
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,775
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 6,549
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 5,053
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