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MOHAWK PROGRESSIVE FEDERAL CREDIT UNION

Dec, 31, 2021 — MOHAWK PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in SCHENECTADY, NY with 1 branch location and about $11.94 million in total assets. Opened 86 years ago in 1936, MOHAWK PROGRESSIVE FEDERAL CREDIT UNION has about 1,064 members and employs 5 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:http://www.mohawkprogressivefcu.com
Branches:1 branch locations
Members:1,064
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$11,942,510
CEO/Manager:Carole M Graver
Chairperson:Frank J DeSarbo

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,802,133
TOTAL INVESTMENTS 1,511,800
Loans Held for Sale 0
 
 Real Estate Loans 3,168,475
 Unsecured Loans 1,042,686
 Other Loans 2,099,511
 TOTAL LOANS 6,310,672
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -32,735
 Land And Building 0
 Other Fixed Assets 2,018
 NCUSIF Deposit 101,060
 All Other Assets 247,562
  TOTAL ASSETS 11,942,510
LIABILITIES & CAPITAL:  
 Dividends Payable 831
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 199,780
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,810,810
 Regular shares 6,163,658
 All Other Shares & Deposits 1,872,176
  TOTAL SHARES & DEPOSITS 10,846,644
  TOTAL LIABILITIES 11,047,255
 Regular Reserve 165,943
 Other Reserves 0
 Undivided Earnings 729,312
  TOTAL EQUITY 895,255
  TOTAL LIABILITIES, SHARES, & EQUITY 11,942,510
INCOME & EXPENSE  
 Loan Income 311,881
 Investment Income 25,842
 Other Income 25,033
 Total Employee Compensation & Benefits 235,917
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 158,709
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 12,190
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 70,520
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