Dec, 31, 2023 — BUFFALO SERVICE CREDIT UNION is a federally insured state chartered credit union headquartered in CHEEKTOWAGA, NY with 2 branch locations and about $81.20 million in total assets. Opened 91 years ago in 1933, BUFFALO SERVICE CREDIT UNION has about 7,058 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BUFFALO SERVICE CREDIT UNION |
|---|---|
| Address: (Main Office) | 3517 Union Rd CHEEKTOWAGA, NY 14225-5127 |
| Phone: | (716) 842-1320 |
| Fax: | (716) 842-1623 |
| Website: | https://www.buffaloservicecreditunion.org/ |
| Branches: | 2 branch locations |
| Members: | 7,058 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60716 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1933 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $81,201,248 |
| CEO/Manager: | James Furman |
| Chairperson: | Kimberly Wallace |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,712,806 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 14,741,135 |
| Unsecured Loans | 4,357,118 |
| Other Loans | 15,554,868 |
| TOTAL LOANS | 34,653,121 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -60,974 |
| Land And Building | 2,009,329 |
| Other Fixed Assets | 174,761 |
| NCUSIF Deposit | 732,061 |
| All Other Assets | 0 |
| TOTAL ASSETS | 81,201,248 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,195,883 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,233,167 |
| Regular shares | 53,862,595 |
| All Other Shares & Deposits | 4,947,500 |
| TOTAL SHARES & DEPOSITS | 72,043,263 |
| TOTAL LIABILITIES | 74,239,146 |
| Regular Reserve | 0 |
| Other Reserves | -1,516,431 |
| Undivided Earnings | 8,478,533 |
| TOTAL EQUITY | 6,962,102 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 81,201,248 |
| INCOME & EXPENSE | |
| Loan Income | 1,778,885 |
| Investment Income | 1,561,890 |
| Other Income | 224,607 |
| Total Employee Compensation & Benefits | 1,149,034 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,116,745 |
| Non-operating Income & (Expense) | -29,031 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 111,065 |
| Cost of Funds | 84,561 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,484,594 |
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