Dec, 31, 2023 — SORG BAY WEST FEDERAL CREDIT UNION is a federal credit union headquartered in MIDDLETOWN, OH with 1 branch location and about $10.65 million in total assets. Opened 74 years ago in 1950, SORG BAY WEST FEDERAL CREDIT UNION has about 955 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SORG BAY WEST FEDERAL CREDIT UNION |
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Address: (Main Office) | 400 N BROAD ST MIDDLETOWN, OH 45042-1909 |
Phone: | (513) 422-8697 |
Fax: | (513) 422-1692 |
Website: | https://www.sorgbaywest.com |
Branches: | 1 branch locations |
Members: | 955 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 6772 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1950 |
Last Audited: | Apr 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $10,650,623 |
CEO/Manager: | JOANN MAMALIGAS |
Chairperson: | JEFFREY KINSEL |
ASSETS: | $ Amount |
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Cash & Equivalents | 553,770 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,165,709 |
Unsecured Loans | 858,586 |
Other Loans | 5,949,538 |
TOTAL LOANS | 8,973,833 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -100,135 |
Land And Building | 72,239 |
Other Fixed Assets | 3,500 |
NCUSIF Deposit | 91,931 |
All Other Assets | 56,188 |
TOTAL ASSETS | 10,650,623 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 124,564 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,022,992 |
Regular shares | 3,347,160 |
All Other Shares & Deposits | 5,359,406 |
TOTAL SHARES & DEPOSITS | 9,729,558 |
TOTAL LIABILITIES | 9,854,122 |
Regular Reserve | 0 |
Other Reserves | -13,777 |
Undivided Earnings | 810,278 |
TOTAL EQUITY | 796,501 |
TOTAL LIABILITIES, SHARES, & EQUITY | 10,650,623 |
INCOME & EXPENSE | |
Loan Income | 586,943 |
Investment Income | 27,696 |
Other Income | 23,562 |
Total Employee Compensation & Benefits | 222,750 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 188,942 |
Non-operating Income & (Expense) | 5,114 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 165,000 |
Cost of Funds | 132,037 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -23,957 |
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» See also Statement of Financial Condition