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CADETS FEDERAL CREDIT UNION

Dec, 31, 2023 — CADETS FEDERAL CREDIT UNION is a federal credit union headquartered in ELMA, NY with 2 branch locations and about $17.64 million in total assets. Opened 74 years ago in 1950, CADETS FEDERAL CREDIT UNION has about 1,179 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CADETS FEDERAL CREDIT UNION
Address:
(Main Office)
1751 TRANSIT RD
ELMA, NY 14059-9687
Phone:(716) 771-3434
Fax:(716) 771-3435
Website:https://[email protected]
Branches:2 branch locations
Members:1,179
Credit Union Type:Federal Credit Union
Charter Number:6930
Membership Type:Multiple common bond - Primarily faith based
Corporate Credit Union:No
Year Opened:1950
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$17,644,438
CEO/Manager:SANDRA A KOPACZ
Chairperson:THEODORE J PYRAK

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,502,514
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,910,934
 Unsecured Loans 886,587
 Other Loans 9,397,311
 TOTAL LOANS 12,194,832
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -89,143
 Land And Building 838,375
 Other Fixed Assets 33,637
 NCUSIF Deposit 152,834
 All Other Assets 42,000
  TOTAL ASSETS 17,644,438
LIABILITIES & CAPITAL:  
 Dividends Payable 10
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 31,699
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 971,115
 Regular shares 5,161,553
 All Other Shares & Deposits 9,994,798
  TOTAL SHARES & DEPOSITS 16,127,466
  TOTAL LIABILITIES 16,159,175
 Regular Reserve 0
 Other Reserves 296,022
 Undivided Earnings 1,189,241
  TOTAL EQUITY 1,485,263
  TOTAL LIABILITIES, SHARES, & EQUITY 17,644,438
INCOME & EXPENSE  
 Loan Income 798,593
 Investment Income 92,423
 Other Income 45,691
 Total Employee Compensation & Benefits 330,243
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 261,678
 Non-operating Income & (Expense) 127
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 106,764
 Cost of Funds 285,675
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -16,758
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