Dec, 31, 2023 — SUNMARK CREDIT UNION is a federally insured state chartered credit union headquartered in LATHAM, NY with 16 branch locations and about $1.16 billion in total assets. Opened 87 years ago in 1937, SUNMARK CREDIT UNION has about 89,400 members and employs 261 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SUNMARK CREDIT UNION |
|---|---|
| Address: (Main Office) | 1187 Troy Schenectady Rd LATHAM, NY 12110-1086 |
| Phone: | (866) 786-6275 |
| Fax: | |
| Website: | https://sunmark.org |
| Branches: | 16 branch locations |
| Members: | 89,400 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68710 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,157,590,956 |
| CEO/Manager: | Frank DeGraw |
| Chairperson: | Dawn C Doherty |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 29,629,330 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,622,963 |
| Real Estate Loans | 649,542,707 |
| Unsecured Loans | 79,400,696 |
| Other Loans | 308,778,199 |
| TOTAL LOANS | 1,037,736,899 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,315,106 |
| Land And Building | 23,465,809 |
| Other Fixed Assets | 4,717,225 |
| NCUSIF Deposit | 9,782,151 |
| All Other Assets | 1,181,416 |
| TOTAL ASSETS | 1,157,590,956 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 620,977 |
| Notes & Interest Payable | 46,500,000 |
| Accounts Payable & Other Liabilities | 14,716,945 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 220,634,734 |
| Regular shares | 327,358,940 |
| All Other Shares & Deposits | 458,041,204 |
| TOTAL SHARES & DEPOSITS | 1,006,034,878 |
| TOTAL LIABILITIES | 1,067,908,342 |
| Regular Reserve | 0 |
| Other Reserves | -1,346,474 |
| Undivided Earnings | 91,029,088 |
| TOTAL EQUITY | 89,682,614 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,157,590,956 |
| INCOME & EXPENSE | |
| Loan Income | 51,275,783 |
| Investment Income | 1,103,690 |
| Other Income | 11,003,998 |
| Total Employee Compensation & Benefits | 24,298,926 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 25,089,125 |
| Non-operating Income & (Expense) | -305,481 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,308,664 |
| Cost of Funds | 13,873,174 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,312,889 |
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