Sep, 30, 2025 — FIRST SOURCE FEDERAL CREDIT UNION is a federal credit union headquartered in NEW HARTFORD, NY with 6 branch locations and about $1.09 billion in total assets. Opened 88 years ago in 1938, FIRST SOURCE FEDERAL CREDIT UNION has about 63,579 members and employs 242 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST SOURCE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4451 Commercial Dr NEW HARTFORD, NY 13413-6207 |
| Phone: | (315) 735-8571 |
| Fax: | (315) 735-1552 |
| Website: | https://www.fsource.org |
| Branches: | 6 branch locations |
| Members: | 63,579 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2658 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,093,994,631 |
| CEO/Manager: | John Calabrese |
| Chairperson: | Raymond L Philo |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 58,639,441 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 492,515,865 |
| Unsecured Loans | 110,480,272 |
| Other Loans | 391,062,384 |
| TOTAL LOANS | 1,023,568,298 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -24,117,924 |
| Land And Building | 7,409,366 |
| Other Fixed Assets | 292,928 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 8,942,481 |
| All Other Assets | 183,093 |
| TOTAL ASSETS | 1,093,994,631 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 9,044,047 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 159,775,277 |
| Regular shares | 223,485,980 |
| All Other Shares & Deposits | 574,358,481 |
| TOTAL SHARES & DEPOSITS | 957,619,738 |
| TOTAL LIABILITIES | 986,663,785 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 107,330,846 |
| TOTAL EQUITY | 107,330,846 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,093,994,631 |
| INCOME & EXPENSE | |
| Loan Income | 49,044,514 |
| Investment Income | 1,695,211 |
| Other Income | 3,552,446 |
| Total Employee Compensation & Benefits | 16,950,440 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 15,217,158 |
| Non-operating Income & (Expense) | -183,571 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,150,000 |
| Cost of Funds | 14,189,084 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,041,877 |
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