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SORG BAY WEST FEDERAL CREDIT UNION

Jun, 30, 2024 — SORG BAY WEST FEDERAL CREDIT UNION is a federal credit union headquartered in MIDDLETOWN, OH with 1 branch location and about $10.02 million in total assets. Opened 75 years ago in 1950, SORG BAY WEST FEDERAL CREDIT UNION has about 960 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
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:960
Credit Union Type:Federal Credit Union
Charter Number:6772
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, 2022
FHLB Member:No
Low Income Designation:No
Assets:$10,022,957
CEO/Manager:JOANN MAMALIGAS
Chairperson:JEFFREY KINSEL

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 494,658
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,081,548
 Unsecured Loans 585,391
 Other Loans 4,764,035
 TOTAL LOANS 7,430,974
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -63,469
 Land And Building 84,384
 Other Fixed Assets 10,600
 NCUSIF Deposit 89,001
 All Other Assets 0
  TOTAL ASSETS 10,022,957
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 104,356
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 919,401
 Regular shares 4,610,737
 All Other Shares & Deposits 3,563,970
  TOTAL SHARES & DEPOSITS 9,094,108
  TOTAL LIABILITIES 9,198,464
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 824,493
  TOTAL EQUITY 824,493
  TOTAL LIABILITIES, SHARES, & EQUITY 10,022,957
INCOME & EXPENSE  
 Loan Income 336,681
 Investment Income 18,371
 Other Income 40,477
 Total Employee Compensation & Benefits 161,306
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 139,884
 Non-operating Income & (Expense) 1,336
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 9,500
 Cost of Funds 23,766
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 62,409
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