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SYRACUSE COOPERATIVE FEDERAL CREDIT UNION

Dec, 31, 2023 — SYRACUSE COOPERATIVE FEDERAL CREDIT UNION is a federal credit union headquartered in SYRACUSE, NY with 3 branch locations and about $40.32 million in total assets. Opened 42 years ago in 1982, SYRACUSE COOPERATIVE FEDERAL CREDIT UNION has about 6,088 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SYRACUSE COOPERATIVE FEDERAL CREDIT UNION
Address:
(Main Office)
1816 Erie Blvd E
SYRACUSE, NY 13210
Phone:(315) 471-1116
Fax:(315) 476-0567
Website:https://www.cooperativefederal.org
Branches:3 branch locations
Members:6,088
Credit Union Type:Federal Credit Union
Charter Number:23865
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1982
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$40,321,417
CEO/Manager:Christina Sauve
Chairperson:Frank R Cetera

Call Report

  • Credit Builder
  • First Time Homebuyer Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,918,970
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 24,239,009
 Unsecured Loans 1,608,793
 Other Loans 4,210,748
 TOTAL LOANS 30,058,547
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -864,833
 Land And Building 1,835,792
 Other Fixed Assets 405,214
 NCUSIF Deposit 274,251
 All Other Assets 0
  TOTAL ASSETS 40,321,417
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 606,667
 Accounts Payable & Other Liabilities 5,492,977
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 1,410,000
 Share Drafts 10,143,071
 Regular shares 8,556,535
 All Other Shares & Deposits 12,638,529
  TOTAL SHARES & DEPOSITS 31,338,135
  TOTAL LIABILITIES 38,847,779
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 1,473,638
  TOTAL EQUITY 1,473,638
  TOTAL LIABILITIES, SHARES, & EQUITY 40,321,417
INCOME & EXPENSE  
 Loan Income 1,637,591
 Investment Income 101,249
 Other Income 498,757
 Total Employee Compensation & Benefits 1,501,150
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,626,992
 Non-operating Income & (Expense) 1,359,340
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 42,312
 Cost of Funds 111,552
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 334,560
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