Sep, 30, 2025 — SCHOOL SYSTEMS FEDERAL CREDIT UNION is a federal credit union headquartered in TROY, NY with 2 branch locations and about $105.55 million in total assets. Opened 72 years ago in 1954, SCHOOL SYSTEMS FEDERAL CREDIT UNION has about 4,617 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SCHOOL SYSTEMS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 150 Defreest Dr TROY, NY 12180 |
| Phone: | (518) 286-1611 |
| Fax: | (518) 286-2778 |
| Website: | https://www.nextstepfcu.org |
| Branches: | 2 branch locations |
| Members: | 4,617 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9486 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $105,551,711 |
| CEO/Manager: | Joseph G Wiley |
| Chairperson: | Mary Beth Vail |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,879,057 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 22,204,028 |
| Unsecured Loans | 3,695,553 |
| Other Loans | 8,133,308 |
| TOTAL LOANS | 34,032,889 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -464,913 |
| Land And Building | 887,902 |
| Other Fixed Assets | 79,508 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 952,817 |
| All Other Assets | 0 |
| TOTAL ASSETS | 105,551,711 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 48,121 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,066,744 |
| Regular shares | 33,857,413 |
| All Other Shares & Deposits | 43,383,151 |
| TOTAL SHARES & DEPOSITS | 95,307,308 |
| TOTAL LIABILITIES | 95,355,429 |
| Regular Reserve | 0 |
| Other Reserves | 1,870,581 |
| Undivided Earnings | 8,325,701 |
| TOTAL EQUITY | 10,196,282 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 105,551,711 |
| INCOME & EXPENSE | |
| Loan Income | 1,496,977 |
| Investment Income | 1,407,934 |
| Other Income | 33,792 |
| Total Employee Compensation & Benefits | 829,993 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,185,265 |
| Non-operating Income & (Expense) | 205,351 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 138,116 |
| Cost of Funds | 587,147 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 403,533 |
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