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VARICK MEMORIAL FEDERAL CREDIT UNION

Dec, 31, 2021 — VARICK MEMORIAL FEDERAL CREDIT UNION is a federal credit union headquartered in HEMPSTEAD, NY with 1 branch location and about $162,569 in total assets. Opened 25 years ago in 1997, VARICK MEMORIAL FEDERAL CREDIT UNION has about 159 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:VARICK MEMORIAL FEDERAL CREDIT UNION
Address:
(Main Office)
60 Peninsula Blvd
HEMPSTEAD, NY 11550-4205
Phone:(516) 564-6061
Fax:(516) 564-6061
Website:n/a
Branches:1 branch locations
Members:159
Credit Union Type:Federal Credit Union
Charter Number:24598
Membership Type:Associational - Religious, other than those designated 'low-income'
Corporate Credit Union:No
Year Opened:1997
Last Audited:Oct 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$162,569
CEO/Manager:Lynette Robinson
Chairperson:Dawn J Lopez

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 78,992
TOTAL INVESTMENTS 80,396
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 3,256
 Other Loans 432
 TOTAL LOANS 3,688
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,930
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 3,226
 All Other Assets 197
  TOTAL ASSETS 162,569
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,007
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 144,873
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 144,873
  TOTAL LIABILITIES 150,880
 Regular Reserve 4,839
 Other Reserves 0
 Undivided Earnings 6,850
  TOTAL EQUITY 11,689
  TOTAL LIABILITIES, SHARES, & EQUITY 162,569
INCOME & EXPENSE  
 Loan Income 720
 Investment Income 817
 Other Income 12
 Total Employee Compensation & Benefits 0
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 7,265
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 0
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,608
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