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SARATOGA'S COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2022 — SARATOGA'S COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in SARATOGA SPRINGS, NY with 2 branch locations and about $61.22 million in total assets. Opened 78 years ago in 1945, SARATOGA'S COMMUNITY FEDERAL CREDIT UNION has about 5,740 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SARATOGA'S COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
23 Division St
SARATOGA SPRINGS, NY 12866-2113
Phone:(518) 583-2323
Fax:(518) 583-9143
Website:https://saratogafcu.org
Branches:2 branch locations
Members:5,740
Credit Union Type:Federal Credit Union
Charter Number:5252
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1945
Last Audited:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$61,216,905
CEO/Manager:Donald Denofio
Chairperson:Jane Decoteau

Call Report

  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,236,899
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 33,967,949
 Unsecured Loans 6,059,322
 Other Loans 8,865,562
 TOTAL LOANS 48,892,833
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -89,816
 Land And Building 310,245
 Other Fixed Assets 50,196
 NCUSIF Deposit 526,920
 All Other Assets 43,603
  TOTAL ASSETS 61,216,905
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 13,618
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 19,374,563
 Regular shares 31,819,725
 All Other Shares & Deposits 6,800,740
  TOTAL SHARES & DEPOSITS 57,995,028
  TOTAL LIABILITIES 58,008,646
 Regular Reserve 0
 Other Reserves 1,263,356
 Undivided Earnings 1,944,903
  TOTAL EQUITY 3,208,259
  TOTAL LIABILITIES, SHARES, & EQUITY 61,216,905
INCOME & EXPENSE  
 Loan Income 1,355,577
 Investment Income 77,654
 Other Income 245,597
 Total Employee Compensation & Benefits 780,943
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,045,833
 Non-operating Income & (Expense) 6,000
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 47,104
 Cost of Funds 22,907
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 94,300
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