Dec, 31, 2023 — MOHAWK PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in SCHENECTADY, NY with 1 branch location and about $12.43 million in total assets. Opened 88 years ago in 1936, MOHAWK PROGRESSIVE FEDERAL CREDIT UNION has about 1,081 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MOHAWK PROGRESSIVE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1760 State St SCHENECTADY, NY 12304-1956 |
| Phone: | (518) 372-0828 |
| Fax: | (518) 374-1428 |
| Website: | https://www.mohawkprogressivefcu.com |
| Branches: | 1 branch locations |
| Members: | 1,081 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 907 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,430,763 |
| CEO/Manager: | Carole M Graver |
| Chairperson: | Frank J DeSarbo |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 388,049 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,826,452 |
| Unsecured Loans | 1,322,307 |
| Other Loans | 3,464,593 |
| TOTAL LOANS | 9,613,352 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -49,949 |
| Land And Building | 0 |
| Other Fixed Assets | 72 |
| NCUSIF Deposit | 108,975 |
| All Other Assets | 0 |
| TOTAL ASSETS | 12,430,763 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 809 |
| Notes & Interest Payable | 110,000 |
| Accounts Payable & Other Liabilities | 2,582 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,504,566 |
| Regular shares | 5,001,391 |
| All Other Shares & Deposits | 2,743,586 |
| TOTAL SHARES & DEPOSITS | 11,249,543 |
| TOTAL LIABILITIES | 11,362,934 |
| Regular Reserve | 0 |
| Other Reserves | 165,943 |
| Undivided Earnings | 901,886 |
| TOTAL EQUITY | 1,067,829 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,430,763 |
| INCOME & EXPENSE | |
| Loan Income | 418,059 |
| Investment Income | 104,829 |
| Other Income | 26,252 |
| Total Employee Compensation & Benefits | 231,079 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 192,003 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,205 |
| Cost of Funds | 9,566 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 120,004 |
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