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 |
| 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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