Dec, 31, 2023 — SEA COMM FEDERAL CREDIT UNION is a federal credit union headquartered in MASSENA, NY with 9 branch locations and about $799.35 million in total assets. Opened 61 years ago in 1963, SEA COMM FEDERAL CREDIT UNION has about 54,208 members and employs 137 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SEA COMM FEDERAL CREDIT UNION |
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Address: (Main Office) | 30 Stearns St MASSENA, NY 13662-2310 |
Phone: | (315) 764-0566 |
Fax: | (315) 764-0152 |
Website: | https://www.seacomm.org |
Branches: | 9 branch locations |
Members: | 54,208 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15672 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1963 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $799,354,624 |
CEO/Manager: | Scott A Wilson |
Chairperson: | Myron F Burns |
ASSETS: | $ Amount |
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Cash & Equivalents | 20,780,585 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 198,732,685 |
Unsecured Loans | 42,977,393 |
Other Loans | 196,515,827 |
TOTAL LOANS | 440,141,098 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,956,719 |
Land And Building | 20,377,287 |
Other Fixed Assets | 2,046,239 |
NCUSIF Deposit | 6,519,216 |
All Other Assets | 97,170 |
TOTAL ASSETS | 799,354,624 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 243,238 |
Notes & Interest Payable | 55,000,000 |
Accounts Payable & Other Liabilities | 7,542,256 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 118,665,486 |
Regular shares | 161,064,977 |
All Other Shares & Deposits | 381,449,219 |
TOTAL SHARES & DEPOSITS | 661,179,683 |
TOTAL LIABILITIES | 723,965,177 |
Regular Reserve | 0 |
Other Reserves | -39,612,463 |
Undivided Earnings | 115,001,910 |
TOTAL EQUITY | 75,389,447 |
TOTAL LIABILITIES, SHARES, & EQUITY | 799,354,624 |
INCOME & EXPENSE | |
Loan Income | 23,220,088 |
Investment Income | 10,117,673 |
Other Income | 3,865,217 |
Total Employee Compensation & Benefits | 10,881,560 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 13,764,815 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 935,000 |
Cost of Funds | 9,383,026 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,607,826 |
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