Dec, 31, 2023 — TRI-LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in SARANAC LAKE, NY with 2 branch locations and about $26.37 million in total assets. Opened 46 years ago in 1978, TRI-LAKES FEDERAL CREDIT UNION has about 2,171 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TRI-LAKES FEDERAL CREDIT UNION |
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Address: (Main Office) | 197 Broadway SARANAC LAKE, NY 12983 |
Phone: | (518) 891-1666 |
Fax: | (518) 891-1797 |
Website: | https://www.trilakesfcu.com |
Branches: | 2 branch locations |
Members: | 2,171 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 23198 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1978 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $26,365,784 |
CEO/Manager: | Heather L DeForest |
Chairperson: | Peter Sayles |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,997,184 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,803,076 |
Unsecured Loans | 1,360,645 |
Other Loans | 9,423,248 |
TOTAL LOANS | 12,586,968 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -85,673 |
Land And Building | 487,595 |
Other Fixed Assets | 48,691 |
NCUSIF Deposit | 246,510 |
All Other Assets | 0 |
TOTAL ASSETS | 26,365,784 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 326,578 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,000,006 |
Regular shares | 16,640,227 |
All Other Shares & Deposits | 1,777,776 |
TOTAL SHARES & DEPOSITS | 23,418,009 |
TOTAL LIABILITIES | 23,744,587 |
Regular Reserve | 0 |
Other Reserves | 742,914 |
Undivided Earnings | 1,878,283 |
TOTAL EQUITY | 2,621,197 |
TOTAL LIABILITIES, SHARES, & EQUITY | 26,365,784 |
INCOME & EXPENSE | |
Loan Income | 680,544 |
Investment Income | 440,479 |
Other Income | 248,420 |
Total Employee Compensation & Benefits | 381,232 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 485,798 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,833 |
Cost of Funds | 16,725 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 460,487 |
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» See also Statement of Financial Condition