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SPECIAL METALS FEDERAL CREDIT UNION

Mar, 31, 2021 — SPECIAL METALS FEDERAL CREDIT UNION is a federal credit union headquartered in NEW HARTFORD, NY with 1 branch location and about $12.95 million in total assets. Opened 60 years ago in 1961, SPECIAL METALS FEDERAL CREDIT UNION has about 972 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:972
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:$12,951,275
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 3,990,223
TOTAL INVESTMENTS 509,927
Loans Held for Sale 0
 
 Real Estate Loans 1,189,455
 Unsecured Loans 1,181,192
 Other Loans 5,177,169
 TOTAL LOANS 7,547,816
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -58,579
 Land And Building 653,714
 Other Fixed Assets 28,875
 NCUSIF Deposit 90,941
 All Other Assets 188,358
  TOTAL ASSETS 12,951,275
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 9,290
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,060,136
 Regular shares 6,641,523
 All Other Shares & Deposits 2,642,412
  TOTAL SHARES & DEPOSITS 11,344,071
  TOTAL LIABILITIES 11,353,361
 Regular Reserve 458,286
 Other Reserves 0
 Undivided Earnings 1,139,628
  TOTAL EQUITY 1,597,914
  TOTAL LIABILITIES, SHARES, & EQUITY 12,951,275
INCOME & EXPENSE  
 Loan Income 111,363
 Investment Income 538
 Other Income 3,378
 Total Employee Compensation & Benefits 47,414
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 57,880
 Non-operating Income & (Expense) 1,931
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 25,000
 Cost of Funds 9,083
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -13,485
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