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SPECIAL METALS FEDERAL CREDIT UNION

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.


ABA Routing Number: 221376911
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

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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