Dec, 31, 2023 — STAMFORD FEDERAL CREDIT UNION is a federal credit union headquartered in NORWALK, CT with 3 branch locations and about $128.90 million in total assets. Opened 71 years ago in 1953, STAMFORD FEDERAL CREDIT UNION has about 9,459 members and employs 36 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | STAMFORD FEDERAL CREDIT UNION |
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Address: (Main Office) | 37 North Ave NORWALK, CT 06851 |
Phone: | (203) 977-4701 |
Fax: | (203) 324-7546 |
Website: | https://www.mysoundcu.org |
Branches: | 3 branch locations |
Members: | 9,459 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24705 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $128,897,302 |
CEO/Manager: | Edward H Fox |
Chairperson: | Peter Privitera |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,014,129 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 62,179,521 |
Unsecured Loans | 12,172,976 |
Other Loans | 23,333,196 |
TOTAL LOANS | 97,685,694 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -555,522 |
Land And Building | 1,420,860 |
Other Fixed Assets | 6,467,767 |
NCUSIF Deposit | 1,044,470 |
All Other Assets | 0 |
TOTAL ASSETS | 128,897,302 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 44,776 |
Notes & Interest Payable | 8,500,000 |
Accounts Payable & Other Liabilities | 2,265,773 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 27,906,890 |
Regular shares | 50,048,375 |
All Other Shares & Deposits | 29,634,420 |
TOTAL SHARES & DEPOSITS | 107,589,685 |
TOTAL LIABILITIES | 118,400,234 |
Regular Reserve | 0 |
Other Reserves | 3,917,473 |
Undivided Earnings | 6,579,595 |
TOTAL EQUITY | 10,497,068 |
TOTAL LIABILITIES, SHARES, & EQUITY | 128,897,302 |
INCOME & EXPENSE | |
Loan Income | 6,115,266 |
Investment Income | 614,083 |
Other Income | 492,508 |
Total Employee Compensation & Benefits | 3,531,661 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,911,347 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 204,000 |
Cost of Funds | 1,287,487 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 400,144 |
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