Jun, 30, 2024 — STATE EMPLOYEES FEDERAL CREDIT UNION (SEFCU) is a federal credit union headquartered in ALBANY, NY with 65 branch locations and about $8.08 billion in total assets. Opened 90 years ago in 1934, STATE EMPLOYEES FEDERAL CREDIT UNION (SEFCU) has about 505,365 members and employs 1,451 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | STATE EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4 Winners Cir ALBANY, NY 12205-1121 |
| Phone: | (518) 458-8986 |
| Fax: | (518) 458-2261 |
| Website: | https://www.sefcu.com |
| Branches: | 65 branch locations |
| Members: | 505,365 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 51 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $8,082,538,812 |
| CEO/Manager: | Michael J Castellana |
| Chairperson: | Patrick Kelly |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 399,806,598 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 60,978,495 |
| Real Estate Loans | 3,480,171,857 |
| Unsecured Loans | 460,589,763 |
| Other Loans | 1,514,408,150 |
| TOTAL LOANS | 5,455,208,646 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -36,474,323 |
| Land And Building | 52,956,464 |
| Other Fixed Assets | 35,543,064 |
| NCUSIF Deposit | 66,572,302 |
| All Other Assets | 1,684,997 |
| TOTAL ASSETS | 8,082,538,812 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 5,120 |
| Notes & Interest Payable | 5,107,967 |
| Accounts Payable & Other Liabilities | 94,998,580 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,590,706,718 |
| Regular shares | 2,394,054,319 |
| All Other Shares & Deposits | 3,443,759,854 |
| TOTAL SHARES & DEPOSITS | 7,428,520,891 |
| TOTAL LIABILITIES | 7,528,632,558 |
| Regular Reserve | 0 |
| Other Reserves | 136,855,309 |
| Undivided Earnings | 417,050,945 |
| TOTAL EQUITY | 553,906,254 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,082,538,812 |
| INCOME & EXPENSE | |
| Loan Income | 101,566,790 |
| Investment Income | 21,762,157 |
| Other Income | 20,123,703 |
| Total Employee Compensation & Benefits | 78,072,271 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 63,111,062 |
| Non-operating Income & (Expense) | 155,854 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,886,929 |
| Cost of Funds | 7,755,502 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 29,968,096 |
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