Dec, 31, 2023 — GENESEE VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in GENESEO, NY with 4 branch locations and about $142.21 million in total assets. Opened 50 years ago in 1974, GENESEE VALLEY FEDERAL CREDIT UNION has about 9,676 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GENESEE VALLEY FEDERAL CREDIT UNION |
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Address: (Main Office) | 4621 Millennium Dr GENESEO, NY 14454 |
Phone: | (585) 243-1500 |
Fax: | (585) 243-4143 |
Website: | https://www.geneseevalleyfcu.com |
Branches: | 4 branch locations |
Members: | 9,676 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 21658 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1974 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $142,209,004 |
CEO/Manager: | Gerard Koehler |
Chairperson: | Daniel R Johnson |
ASSETS: | $ Amount |
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Cash & Equivalents | 15,372,114 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 52,918,224 |
Unsecured Loans | 5,424,542 |
Other Loans | 31,381,085 |
TOTAL LOANS | 89,833,896 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -498,916 |
Land And Building | 1,427,350 |
Other Fixed Assets | 174,623 |
NCUSIF Deposit | 1,227,710 |
All Other Assets | 0 |
TOTAL ASSETS | 142,209,004 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,324,598 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 30,909,937 |
Regular shares | 57,512,018 |
All Other Shares & Deposits | 33,100,350 |
TOTAL SHARES & DEPOSITS | 121,522,305 |
TOTAL LIABILITIES | 122,846,903 |
Regular Reserve | 0 |
Other Reserves | 1,525,172 |
Undivided Earnings | 17,836,929 |
TOTAL EQUITY | 19,362,101 |
TOTAL LIABILITIES, SHARES, & EQUITY | 142,209,004 |
INCOME & EXPENSE | |
Loan Income | 4,851,041 |
Investment Income | 2,010,747 |
Other Income | 185,193 |
Total Employee Compensation & Benefits | 2,633,127 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,877,227 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 206,352 |
Cost of Funds | 499,081 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,283,826 |
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