Dec, 31, 2023 — THE FINEST FEDERAL CREDIT UNION is a federal credit union headquartered in NEW YORK, NY with 1 branch location and about $27.82 million in total assets. Opened 9 years ago in 2015, THE FINEST FEDERAL CREDIT UNION has about 8,182 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE FINEST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 215 Park Row NEW YORK, NY 10038 |
| Phone: | (646) 661-1886 |
| Fax: | (646) 661-1093 |
| Website: | https://thefinestfcu.org |
| Branches: | 1 branch locations |
| Members: | 8,182 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24862 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 2015 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $27,817,249 |
| CEO/Manager: | Keith Stone |
| Chairperson: | George Mifsud |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,732,080 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 111,164 |
| Unsecured Loans | 20,899,682 |
| Other Loans | 3,146,007 |
| TOTAL LOANS | 24,156,852 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,244,103 |
| Land And Building | 0 |
| Other Fixed Assets | 204,865 |
| NCUSIF Deposit | 183,793 |
| All Other Assets | 0 |
| TOTAL ASSETS | 27,817,249 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 79,643 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,437,058 |
| Regular shares | 9,581,987 |
| All Other Shares & Deposits | 9,116,445 |
| TOTAL SHARES & DEPOSITS | 22,135,490 |
| TOTAL LIABILITIES | 22,215,133 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 5,602,116 |
| TOTAL EQUITY | 5,602,116 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,817,249 |
| INCOME & EXPENSE | |
| Loan Income | 2,310,245 |
| Investment Income | 161,619 |
| Other Income | 197,318 |
| Total Employee Compensation & Benefits | 1,116,424 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 819,227 |
| Non-operating Income & (Expense) | 3,566,507 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,674,610 |
| Cost of Funds | 385,422 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,329,649 |
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