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DIRECTORS CHOICE CREDIT UNION

Mar, 31, 2021 — DIRECTORS CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in ALBANY, NY with 1 branch location and about $12.67 million in total assets. Opened 22 years ago in 1999, DIRECTORS CHOICE CREDIT UNION has about 847 members and employs 3 full and part-time employees 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:847
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:$12,670,289
CEO/Manager:Michael Lanotte
Chairperson:Eugene M Guarino

Call Report

  • Commercial Loans
  • Credit Builder
  • Overdraft Lines of Credit
  • Participation Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,356,460
TOTAL INVESTMENTS 747,350
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 499,476
 Other Loans 8,099,190
 TOTAL LOANS 8,598,666
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -114,314
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 75,447
 All Other Assets 6,680
  TOTAL ASSETS 12,670,289
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 194
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 609,555
 Regular shares 1,054,901
 All Other Shares & Deposits 9,209,975
  TOTAL SHARES & DEPOSITS 10,874,431
  TOTAL LIABILITIES 10,874,625
 Regular Reserve 32,325
 Other Reserves 0
 Undivided Earnings 1,763,339
  TOTAL EQUITY 1,795,664
  TOTAL LIABILITIES, SHARES, & EQUITY 12,670,289
INCOME & EXPENSE  
 Loan Income 100,561
 Investment Income 5,184
 Other Income 335
 Total Employee Compensation & Benefits 0
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 40,497
 Non-operating Income & (Expense) 10,000
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,000
 Cost of Funds 41,802
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 28,845
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