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ALTERNATIVES FEDERAL CREDIT UNION

Mar, 31, 2021 — ALTERNATIVES FEDERAL CREDIT UNION is a federal credit union headquartered in Ithaca, NY with 1 branch location and about $158.82 million in total assets. Opened 43 years ago in 1978, ALTERNATIVES FEDERAL CREDIT UNION has about 10,869 members and employs 43 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 Street
Ithaca, NY 14850-3301
Phone:(607) 273-4611
Fax:(607) 277-6391
Website:http://www.alternatives.org
Branches:1 branch locations
Members:10,869
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$158,820,153
CEO/Manager:Eric Levine
Chairperson:Jessa E Edwards

Call Report

  • Commercial Loans
  • Credit Builder
  • Micro Business Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Refund Anticipation Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Individual Development Accounts
  • In-School Branches
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 56,821,269
TOTAL INVESTMENTS 1,755,941
Loans Held for Sale 0
 
 Real Estate Loans 71,560,432
 Unsecured Loans 13,557,040
 Other Loans 9,091,460
 TOTAL LOANS 94,208,932
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -870,778
 Land And Building 3,386,047
 Other Fixed Assets 214,237
 NCUSIF Deposit 1,230,266
 All Other Assets 2,074,239
  TOTAL ASSETS 158,820,153
LIABILITIES & CAPITAL:  
 Dividends Payable 2,073
 Notes & Interest Payable 820,000
 Accounts Payable & Other Liabilities 1,506,822
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 980,000
 Share Drafts 52,505,715
 Regular shares 69,616,953
 All Other Shares & Deposits 24,824,990
  TOTAL SHARES & DEPOSITS 146,947,658
  TOTAL LIABILITIES 150,256,553
 Regular Reserve 772,784
 Other Reserves 6,625
 Undivided Earnings 7,784,191
  TOTAL EQUITY 8,563,600
  TOTAL LIABILITIES, SHARES, & EQUITY 158,820,153
INCOME & EXPENSE  
 Loan Income 1,113,513
 Investment Income 21,956
 Other Income 502,901
 Total Employee Compensation & Benefits 840,043
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 587,752
 Non-operating Income & (Expense) 47,019
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 57,489
 Cost of Funds 110,347
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 359,030
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