Dec, 31, 2023 — ALCO FEDERAL CREDIT UNION is a federal credit union headquartered in WELLSVILLE, NY with 4 branch locations and about $51.39 million in total assets. Opened 71 years ago in 1953, ALCO FEDERAL CREDIT UNION has about 6,461 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ALCO FEDERAL CREDIT UNION |
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Address: (Main Office) | 2859 Lindy Ln WELLSVILLE, NY 14895-9337 |
Phone: | (585) 593-4959 |
Fax: | (585) 593-4197 |
Website: | https://alcofcu.com |
Branches: | 4 branch locations |
Members: | 6,461 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8975 |
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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: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $51,387,194 |
CEO/Manager: | Michael G Miller |
Chairperson: | Earl Stellrect |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,121,867 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 4,163,028 |
Unsecured Loans | 5,049,638 |
Other Loans | 21,423,444 |
TOTAL LOANS | 30,636,110 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -134,473 |
Land And Building | 881,818 |
Other Fixed Assets | 214,681 |
NCUSIF Deposit | 431,836 |
All Other Assets | 0 |
TOTAL ASSETS | 51,387,194 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 77,506 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 100,522 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 11,749,427 |
Regular shares | 22,841,189 |
All Other Shares & Deposits | 10,063,676 |
TOTAL SHARES & DEPOSITS | 44,654,292 |
TOTAL LIABILITIES | 44,832,320 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 6,554,874 |
TOTAL EQUITY | 6,554,874 |
TOTAL LIABILITIES, SHARES, & EQUITY | 51,387,194 |
INCOME & EXPENSE | |
Loan Income | 1,696,146 |
Investment Income | 366,459 |
Other Income | 490,615 |
Total Employee Compensation & Benefits | 1,277,248 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,132,851 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 51,297 |
Cost of Funds | 174,106 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 421,573 |
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