Dec, 31, 2021 — SARATOGA'S COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in SARATOGA SPRINGS, NY with 2 branch locations and about $58.08 million in total assets. Opened 77 years ago in 1945, SARATOGA'S COMMUNITY FEDERAL CREDIT UNION has about 5,733 members and employs 16 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: | 5,733 |
| 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: | $58,081,541 |
| CEO/Manager: | Donald Denofio |
| Chairperson: | Jane Decoteau |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,489,538 |
| TOTAL INVESTMENTS | 3,548,000 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 23,917,557 |
| Unsecured Loans | 6,068,566 |
| Other Loans | 9,271,855 |
| TOTAL LOANS | 39,257,978 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -65,978 |
| Land And Building | 279,489 |
| Other Fixed Assets | 16,053 |
| NCUSIF Deposit | 495,441 |
| All Other Assets | 1,061,020 |
| TOTAL ASSETS | 58,081,541 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 29,623 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,681,151 |
| Regular shares | 29,954,332 |
| All Other Shares & Deposits | 6,302,476 |
| TOTAL SHARES & DEPOSITS | 54,937,959 |
| TOTAL LIABILITIES | 54,967,582 |
| Regular Reserve | 1,145,581 |
| Other Reserves | 0 |
| Undivided Earnings | 1,968,378 |
| TOTAL EQUITY | 3,113,959 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 58,081,541 |
| INCOME & EXPENSE | |
| Loan Income | 1,623,773 |
| Investment Income | 26,504 |
| Other Income | 253,847 |
| Total Employee Compensation & Benefits | 1,098,057 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,292,449 |
| Non-operating Income & (Expense) | 17,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -27,580 |
| Cost of Funds | 56,521 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 50,177 |
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