Dec, 31, 2023 — SCHOOL SYSTEMS FEDERAL CREDIT UNION is a federal credit union headquartered in TROY, NY with 2 branch locations and about $111.08 million in total assets. Opened 70 years ago in 1954, SCHOOL SYSTEMS FEDERAL CREDIT UNION has about 4,431 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: | 4,431 |
| 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: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $111,082,576 |
| CEO/Manager: | Joseph G Wiley |
| Chairperson: | Mary Beth Vail |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,189,506 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,488,929 |
| Unsecured Loans | 5,057,098 |
| Other Loans | 8,947,789 |
| TOTAL LOANS | 38,493,816 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -377,167 |
| Land And Building | 929,793 |
| Other Fixed Assets | 47,155 |
| NCUSIF Deposit | 1,084,677 |
| All Other Assets | 0 |
| TOTAL ASSETS | 111,082,576 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,621,797 |
| Accounts Payable & Other Liabilities | 187,726 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,156,319 |
| Regular shares | 44,664,305 |
| All Other Shares & Deposits | 35,939,025 |
| TOTAL SHARES & DEPOSITS | 99,759,650 |
| TOTAL LIABILITIES | 101,569,173 |
| Regular Reserve | 0 |
| Other Reserves | 1,870,581 |
| Undivided Earnings | 7,642,822 |
| TOTAL EQUITY | 9,513,403 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 111,082,576 |
| INCOME & EXPENSE | |
| Loan Income | 1,820,044 |
| Investment Income | 1,440,192 |
| Other Income | 60,711 |
| Total Employee Compensation & Benefits | 1,025,540 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,421,017 |
| Non-operating Income & (Expense) | 318,068 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 257,494 |
| Cost of Funds | 400,879 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 534,085 |
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