Dec, 31, 2020 — SPECIAL METALS FEDERAL CREDIT UNION is a federal credit union headquartered in NEW HARTFORD, NY with 1 branch location and about $12.18 million in total assets. Opened 60 years ago in 1961, SPECIAL METALS FEDERAL CREDIT UNION has about 975 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SPECIAL METALS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4340 MIDDLE SETTLEMENT RD NEW HARTFORD, NY 13413-5316 |
| Phone: | (315) 797-3575 |
| Fax: | (315) 797-1380 |
| Website: | http://www.specialmetalsfcu.com |
| Branches: | 1 branch locations |
| Members: | 975 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14522 |
|---|---|
| Membership Type: | Multiple common bond - Primarily primary and fabricated metals |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Jul 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,180,165 |
| CEO/Manager: | Jaime S McCloskey |
| Chairperson: | Gary R Miller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,267,885 |
| TOTAL INVESTMENTS | 9,927 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,335,369 |
| Unsecured Loans | 1,273,913 |
| Other Loans | 5,506,375 |
| TOTAL LOANS | 8,115,657 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -57,942 |
| Land And Building | 657,453 |
| Other Fixed Assets | 31,021 |
| NCUSIF Deposit | 90,941 |
| All Other Assets | 65,223 |
| TOTAL ASSETS | 12,180,165 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 12,680 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,813,097 |
| Regular shares | 5,995,140 |
| All Other Shares & Deposits | 2,747,851 |
| TOTAL SHARES & DEPOSITS | 10,556,088 |
| TOTAL LIABILITIES | 10,568,768 |
| Regular Reserve | 458,286 |
| Other Reserves | 0 |
| Undivided Earnings | 1,153,111 |
| TOTAL EQUITY | 1,611,397 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,180,165 |
| INCOME & EXPENSE | |
| Loan Income | 519,548 |
| Investment Income | 7,212 |
| Other Income | 55,414 |
| Total Employee Compensation & Benefits | 174,100 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 197,031 |
| Non-operating Income & (Expense) | 10,873 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 54,300 |
| Cost of Funds | 68,695 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 98,921 |
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