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QUORUM FEDERAL CREDIT UNION

Mar, 31, 2021 — QUORUM FEDERAL CREDIT UNION is a federal credit union headquartered in PURCHASE, NY with 1 branch location and about $957.39 million in total assets. Opened 44 years ago in 1977, QUORUM FEDERAL CREDIT UNION has about 66,476 members and employs 149 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:QUORUM FEDERAL CREDIT UNION
Address:
(Main Office)
2500 WESTCHESTER AVE, STE 411
PURCHASE, NY 10577-2587
Phone:(914) 641-3700
Fax:(914) 641-3730
Website:http://quorumfcu.org
Branches:1 branch locations
Members:66,476
Credit Union Type:Federal Credit Union
Charter Number:22769
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1977
Last Audited:Apr 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$957,390,047
CEO/Manager:Bruno Sementilli
Chairperson:Mark Werner

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 45,966,763
TOTAL INVESTMENTS 67,088,022
Loans Held for Sale 17,178,253
 
 Real Estate Loans 544,963,797
 Unsecured Loans 99,038,083
 Other Loans 138,661,337
 TOTAL LOANS 782,663,217
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -24,900,000
 Land And Building 0
 Other Fixed Assets 3,365,716
 NCUSIF Deposit 6,741,124
 All Other Assets 59,286,952
  TOTAL ASSETS 957,390,047
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 11,667,197
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 6,000,000
 Share Drafts 122,037,790
 Regular shares 436,546,384
 All Other Shares & Deposits 316,051,768
  TOTAL SHARES & DEPOSITS 874,635,942
  TOTAL LIABILITIES 892,303,139
 Regular Reserve 11,452,977
 Other Reserves -4,135,937
 Undivided Earnings 57,769,868
  TOTAL EQUITY 65,086,908
  TOTAL LIABILITIES, SHARES, & EQUITY 957,390,047
INCOME & EXPENSE  
 Loan Income 10,341,686
 Investment Income 280,115
 Other Income -78,393
 Total Employee Compensation & Benefits 7,420,835
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,706,008
 Non-operating Income & (Expense) -12,656
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 871,957
 Cost of Funds 1,208,210
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,525,744
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