Sep, 30, 2025 — OLEAN AREA FEDERAL CREDIT UNION is a federal credit union headquartered in OLEAN, NY with 5 branch locations and about $410.06 million in total assets. Opened 54 years ago in 1972, OLEAN AREA FEDERAL CREDIT UNION has about 20,950 members and employs 84 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | OLEAN AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 234 Homer St OLEAN, NY 14760 |
| Phone: | (716) 372-6607 |
| Fax: | |
| Website: | https://www.highpointfcu.com |
| Branches: | 5 branch locations |
| Members: | 20,950 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21083 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1972 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $410,057,092 |
| CEO/Manager: | Richard A Yeager |
| Chairperson: | Michele A Pancio |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,655,920 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 89,919,995 |
| Unsecured Loans | 15,821,012 |
| Other Loans | 105,834,475 |
| TOTAL LOANS | 211,771,152 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,055,270 |
| Land And Building | 10,738,375 |
| Other Fixed Assets | 1,684,161 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,231,014 |
| All Other Assets | 10,000 |
| TOTAL ASSETS | 410,057,092 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 5,000,000 |
| Accounts Payable & Other Liabilities | 1,595,877 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 75,524,220 |
| Regular shares | 127,452,501 |
| All Other Shares & Deposits | 152,642,645 |
| TOTAL SHARES & DEPOSITS | 355,619,368 |
| TOTAL LIABILITIES | 362,215,245 |
| Regular Reserve | 0 |
| Other Reserves | -10,199,332 |
| Undivided Earnings | 58,041,179 |
| TOTAL EQUITY | 47,841,847 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 410,057,092 |
| INCOME & EXPENSE | |
| Loan Income | 8,596,052 |
| Investment Income | 2,956,808 |
| Other Income | 1,134,124 |
| Total Employee Compensation & Benefits | 4,730,064 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 4,874,330 |
| Non-operating Income & (Expense) | 200 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 216,700 |
| Cost of Funds | 3,362,743 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,046,818 |
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