Dec, 31, 2023 — GOWANDA AREA FEDERAL CREDIT UNION is a federal credit union headquartered in GOWANDA, NY with 1 branch location and about $28.34 million in total assets. Opened 89 years ago in 1935, GOWANDA AREA FEDERAL CREDIT UNION has about 1,949 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GOWANDA AREA FEDERAL CREDIT UNION |
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Address: (Main Office) | 14266 Taylor Hollow Rd GOWANDA, NY 14070-9703 |
Phone: | (716) 532-3790 |
Fax: | (716) 532-4629 |
Website: | https://gafcu.org |
Branches: | 1 branch locations |
Members: | 1,949 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 818 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Nov 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $28,336,349 |
CEO/Manager: | Lisa A Hill |
Chairperson: | Mary A Clark |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,088,426 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,221,383 |
Unsecured Loans | 565,057 |
Other Loans | 12,048,339 |
TOTAL LOANS | 13,834,779 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -16,922 |
Land And Building | 0 |
Other Fixed Assets | 81,560 |
NCUSIF Deposit | 262,460 |
All Other Assets | 0 |
TOTAL ASSETS | 28,336,349 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 19,077 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 29,959 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,388,349 |
Regular shares | 16,589,533 |
All Other Shares & Deposits | 1,889,151 |
TOTAL SHARES & DEPOSITS | 24,867,034 |
TOTAL LIABILITIES | 24,916,070 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 3,420,279 |
TOTAL EQUITY | 3,420,279 |
TOTAL LIABILITIES, SHARES, & EQUITY | 28,336,349 |
INCOME & EXPENSE | |
Loan Income | 442,239 |
Investment Income | 733,097 |
Other Income | 41,698 |
Total Employee Compensation & Benefits | 236,984 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 318,143 |
Non-operating Income & (Expense) | -18 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,922 |
Cost of Funds | 55,220 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 694,450 |
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