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MOHAWK PROGRESSIVE FEDERAL CREDIT UNION

Sep, 30, 2022 — MOHAWK PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in SCHENECTADY, NY with 1 branch location and about $12.12 million in total assets. Opened 87 years ago in 1936, MOHAWK PROGRESSIVE FEDERAL CREDIT UNION has about 1,041 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:1,041
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$12,123,470
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 1,957,524
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,935,107
 Unsecured Loans 1,016,511
 Other Loans 2,212,368
 TOTAL LOANS 7,163,986
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -31,909
 Land And Building 0
 Other Fixed Assets 1,009
 NCUSIF Deposit 105,655
 All Other Assets 0
  TOTAL ASSETS 12,123,470
LIABILITIES & CAPITAL:  
 Dividends Payable 882
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 162,986
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,707,458
 Regular shares 6,113,620
 All Other Shares & Deposits 2,217,939
  TOTAL SHARES & DEPOSITS 11,039,017
  TOTAL LIABILITIES 11,202,885
 Regular Reserve 0
 Other Reserves 165,943
 Undivided Earnings 754,642
  TOTAL EQUITY 920,585
  TOTAL LIABILITIES, SHARES, & EQUITY 12,123,470
INCOME & EXPENSE  
 Loan Income 232,411
 Investment Income 44,510
 Other Income 18,950
 Total Employee Compensation & Benefits 182,021
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 131,079
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 6,253
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 25,330
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