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STAMFORD FEDERAL CREDIT UNION

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.


ABA Routing Number: 221174391
Name:STAMFORD FEDERAL CREDIT UNION
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
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

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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