Dec, 31, 2023 — ALCO FEDERAL CREDIT UNION is a federal credit union headquartered in WELLSVILLE, NY with 4 branch locations and about $51.39 million in total assets. Opened 71 years ago in 1953, ALCO FEDERAL CREDIT UNION has about 6,461 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2859 Lindy Ln WELLSVILLE, NY 14895-9337 |
| Phone: | (585) 593-4959 |
| Fax: | (585) 593-4197 |
| Website: | https://alcofcu.com |
| Branches: | 4 branch locations |
| Members: | 6,461 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8975 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $51,387,194 |
| CEO/Manager: | Michael G Miller |
| Chairperson: | Earl Stellrect |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,121,867 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,163,028 |
| Unsecured Loans | 5,049,638 |
| Other Loans | 21,423,444 |
| TOTAL LOANS | 30,636,110 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -134,473 |
| Land And Building | 881,818 |
| Other Fixed Assets | 214,681 |
| NCUSIF Deposit | 431,836 |
| All Other Assets | 0 |
| TOTAL ASSETS | 51,387,194 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 77,506 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 100,522 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,749,427 |
| Regular shares | 22,841,189 |
| All Other Shares & Deposits | 10,063,676 |
| TOTAL SHARES & DEPOSITS | 44,654,292 |
| TOTAL LIABILITIES | 44,832,320 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,554,874 |
| TOTAL EQUITY | 6,554,874 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 51,387,194 |
| INCOME & EXPENSE | |
| Loan Income | 1,696,146 |
| Investment Income | 366,459 |
| Other Income | 490,615 |
| Total Employee Compensation & Benefits | 1,277,248 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,132,851 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 51,297 |
| Cost of Funds | 174,106 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 421,573 |
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