Dec, 31, 2023 — NORTHERN CREDIT UNION is a federally insured state chartered credit union headquartered in WATERTOWN, NY with 10 branch locations and about $602.18 million in total assets. Opened 69 years ago in 1955, NORTHERN CREDIT UNION has about 43,901 members and employs 147 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHERN CREDIT UNION |
|---|---|
| Address: (Main Office) | 138 Factory St WATERTOWN, NY 13601-1958 |
| Phone: | (315) 782-0155 |
| Fax: | (315) 782-8684 |
| Website: | https://www.mynorthern.com |
| Branches: | 10 branch locations |
| Members: | 43,901 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68696 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $602,179,213 |
| CEO/Manager: | Daniel St. Hilaire |
| Chairperson: | Gary Rowe |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 45,076,290 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 862,585 |
| Real Estate Loans | 385,924,234 |
| Unsecured Loans | 38,149,591 |
| Other Loans | 83,849,463 |
| TOTAL LOANS | 507,923,288 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,237,995 |
| Land And Building | 16,943,409 |
| Other Fixed Assets | 3,162,205 |
| NCUSIF Deposit | 5,264,802 |
| All Other Assets | 281,387 |
| TOTAL ASSETS | 602,179,213 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 2,702,981 |
| Accounts Payable & Other Liabilities | 4,487,598 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 5,000,000 |
| Share Drafts | 187,339,465 |
| Regular shares | 225,237,606 |
| All Other Shares & Deposits | 114,996,306 |
| TOTAL SHARES & DEPOSITS | 527,573,377 |
| TOTAL LIABILITIES | 539,763,956 |
| Regular Reserve | 0 |
| Other Reserves | 28,426,792 |
| Undivided Earnings | 33,988,465 |
| TOTAL EQUITY | 62,415,257 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 602,179,213 |
| INCOME & EXPENSE | |
| Loan Income | 27,175,986 |
| Investment Income | 1,904,651 |
| Other Income | 5,969,255 |
| Total Employee Compensation & Benefits | 13,040,333 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 17,182,229 |
| Non-operating Income & (Expense) | -2,450 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,261,240 |
| Cost of Funds | 6,671,131 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,812,346 |
| ↑ Back to Top | |