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MORTON LANE FEDERAL CREDIT UNION

Mar, 31, 2021 — MORTON LANE FEDERAL CREDIT UNION is a federal credit union headquartered in BUFFALO, NY with 6 branch locations and about $63.15 million in total assets. Opened 59 years ago in 1962, MORTON LANE FEDERAL CREDIT UNION has about 3,984 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MORTON LANE FEDERAL CREDIT UNION
Address:
(Main Office)
388 ENGLEWOOD AVE
BUFFALO, NY 14223-2812
Phone:(716) 837-2007
Fax:(716) 837-0174
Website:http://www.mortonlanedirect.com
Branches:6 branch locations
Members:3,984
Credit Union Type:Federal Credit Union
Charter Number:15021
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1962
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$63,152,862
CEO/Manager:JUDITH BLEICHFELD
Chairperson:MICHAEL LITTMAN

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,558,119
TOTAL INVESTMENTS 35,813,078
Loans Held for Sale 0
 
 Real Estate Loans 12,803,731
 Unsecured Loans 7,909,478
 Other Loans 2,399,496
 TOTAL LOANS 23,112,705
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -252,225
 Land And Building 11,001
 Other Fixed Assets 18,280
 NCUSIF Deposit 431,121
 All Other Assets 460,783
  TOTAL ASSETS 63,152,862
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 235,566
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,727,555
 Regular shares 36,609,017
 All Other Shares & Deposits 13,755,567
  TOTAL SHARES & DEPOSITS 56,092,139
  TOTAL LIABILITIES 56,327,705
 Regular Reserve 510,000
 Other Reserves -183
 Undivided Earnings 6,315,340
  TOTAL EQUITY 6,825,157
  TOTAL LIABILITIES, SHARES, & EQUITY 63,152,862
INCOME & EXPENSE  
 Loan Income 324,241
 Investment Income 151,435
 Other Income 95,659
 Total Employee Compensation & Benefits 235,121
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 161,286
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 56,666
 Cost of Funds 69,709
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 48,553
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