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National Credit Union Service Organization

S.M.S.D. FEDERAL CREDIT UNION

Jun, 30, 2021 — S.M.S.D. FEDERAL CREDIT UNION is a federal credit union headquartered in BUFFALO, NY with 1 branch location and about $2.40 million in total assets. Opened 46 years ago in 1975, S.M.S.D. FEDERAL CREDIT UNION has about 348 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:S.M.S.D. FEDERAL CREDIT UNION
Address:
(Main Office)
2253 MAIN ST
BUFFALO, NY 14214-2349
Phone:(716) 834-7200
Fax:(716) 834-2720
Website:n/a
Branches:1 branch locations
Members:348
Credit Union Type:Federal Credit Union
Charter Number:22247
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1975
Last Audited:Nov 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$2,403,011
CEO/Manager:Michael J Soehner
Chairperson:Joan P Dudek

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,318,561
TOTAL INVESTMENTS 409,871
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 199,775
 Other Loans 459,841
 TOTAL LOANS 659,616
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,758
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 19,001
 All Other Assets 1,720
  TOTAL ASSETS 2,403,011
LIABILITIES & CAPITAL:  
 Dividends Payable 161
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,754
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,934,248
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 1,934,248
  TOTAL LIABILITIES 1,937,163
 Regular Reserve 40,000
 Other Reserves 0
 Undivided Earnings 425,848
  TOTAL EQUITY 465,848
  TOTAL LIABILITIES, SHARES, & EQUITY 2,403,011
INCOME & EXPENSE  
 Loan Income 11,050
 Investment Income 1,325
 Other Income 41
 Total Employee Compensation & Benefits 6,743
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,875
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -4,619
 Cost of Funds 960
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 14,356
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