Dec, 31, 2023 — TRI STATE AREA FEDERAL CREDIT UNION is a federal credit union headquartered in HOOSICK FALLS, NY with 2 branch locations and about $41.46 million in total assets. Opened 71 years ago in 1953, TRI STATE AREA FEDERAL CREDIT UNION has about 4,146 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRI STATE AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 28 Church St HOOSICK FALLS, NY 12090 |
| Phone: | (518) 686-4504 |
| Fax: | (518) 686-7685 |
| Website: | https://www.tsafcu.com |
| Branches: | 2 branch locations |
| Members: | 4,146 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8885 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $41,457,874 |
| CEO/Manager: | James Martinez |
| Chairperson: | Michael Slattery |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,063,028 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 8,405,732 |
| Unsecured Loans | 8,157,200 |
| Other Loans | 8,126,035 |
| TOTAL LOANS | 24,688,967 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -162,553 |
| Land And Building | 1,529,636 |
| Other Fixed Assets | 204,117 |
| NCUSIF Deposit | 352,424 |
| All Other Assets | 0 |
| TOTAL ASSETS | 41,457,874 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 23 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 158,616 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,284,504 |
| Regular shares | 16,682,318 |
| All Other Shares & Deposits | 15,176,922 |
| TOTAL SHARES & DEPOSITS | 38,143,744 |
| TOTAL LIABILITIES | 38,302,383 |
| Regular Reserve | 0 |
| Other Reserves | -435,144 |
| Undivided Earnings | 3,590,635 |
| TOTAL EQUITY | 3,155,491 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 41,457,874 |
| INCOME & EXPENSE | |
| Loan Income | 1,388,786 |
| Investment Income | 435,269 |
| Other Income | 121,581 |
| Total Employee Compensation & Benefits | 740,878 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 462,938 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 505,241 |
| Cost of Funds | 338,182 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -79,271 |
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