Jun, 30, 2024 — ALTERNATIVES FEDERAL CREDIT UNION is a federal credit union headquartered in ITHACA, NY with 1 branch location and about $167.41 million in total assets. Opened 47 years ago in 1978, ALTERNATIVES FEDERAL CREDIT UNION has about 10,619 members and employs 48 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALTERNATIVES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 125 N Fulton St ITHACA, NY 14850-3301 |
| Phone: | (607) 273-4611 |
| Fax: | (607) 277-6391 |
| Website: | https://www.alternatives.org |
| Branches: | 1 branch locations |
| Members: | 10,619 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23283 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1978 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $167,411,755 |
| CEO/Manager: | Kevin Mietlicki |
| Chairperson: | Brian DeYoung |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 44,849,505 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 54,953,463 |
| Unsecured Loans | 7,410,590 |
| Other Loans | 24,910,475 |
| TOTAL LOANS | 87,274,528 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -736,907 |
| Land And Building | 3,169,230 |
| Other Fixed Assets | 154,133 |
| NCUSIF Deposit | 1,475,667 |
| All Other Assets | 0 |
| TOTAL ASSETS | 167,411,755 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 104 |
| Notes & Interest Payable | 720,000 |
| Accounts Payable & Other Liabilities | 1,074,844 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 6,580,000 |
| Share Drafts | 53,477,807 |
| Regular shares | 74,292,151 |
| All Other Shares & Deposits | 21,071,527 |
| TOTAL SHARES & DEPOSITS | 148,841,485 |
| TOTAL LIABILITIES | 157,216,433 |
| Regular Reserve | 0 |
| Other Reserves | -1,039,459 |
| Undivided Earnings | 11,234,781 |
| TOTAL EQUITY | 10,195,322 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 167,411,755 |
| INCOME & EXPENSE | |
| Loan Income | 3,387,013 |
| Investment Income | 556,071 |
| Other Income | 538,450 |
| Total Employee Compensation & Benefits | 2,591,692 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,375,555 |
| Non-operating Income & (Expense) | 524,756 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 62,964 |
| Cost of Funds | 244,345 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 399,269 |
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