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DIRECTORS CHOICE CREDIT UNION

Jun, 30, 2021 — DIRECTORS CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in ALBANY, NY with 1 branch location and about $12.73 million in total assets. Opened 22 years ago in 1999, DIRECTORS CHOICE CREDIT UNION has about 830 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:DIRECTORS CHOICE CREDIT UNION
Address:
(Main Office)
1 SOUTH FAMILY DRIVE
ALBANY, NY 12205
Phone:(518) 456-2686
Fax:(518) 452-9065
Website:http://www.directorschoicecu.com/
Branches:1 branch locations
Members:830
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68420
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1999
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$12,730,951
CEO/Manager:Michael Lanotte
Chairperson:Eugene M Guarino

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,011,613
TOTAL INVESTMENTS 499,350
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 455,831
 Other Loans 7,795,806
 TOTAL LOANS 8,251,637
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -120,314
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 82,401
 All Other Assets 6,264
  TOTAL ASSETS 12,730,951
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,218
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 581,369
 Regular shares 1,081,551
 All Other Shares & Deposits 9,220,674
  TOTAL SHARES & DEPOSITS 10,883,594
  TOTAL LIABILITIES 10,887,812
 Regular Reserve 32,326
 Other Reserves 0
 Undivided Earnings 1,810,813
  TOTAL EQUITY 1,843,139
  TOTAL LIABILITIES, SHARES, & EQUITY 12,730,951
INCOME & EXPENSE  
 Loan Income 201,150
 Investment Income 13,892
 Other Income 751
 Total Employee Compensation & Benefits 0
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 66,371
 Non-operating Income & (Expense) 17,808
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 12,000
 Cost of Funds 81,028
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 76,319
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