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IRS BUFFALO FEDERAL CREDIT UNION

Dec, 31, 2023 — IRS BUFFALO FEDERAL CREDIT UNION is a federal credit union headquartered in BUFFALO, NY with 2 branch locations and about $5.78 million in total assets. Opened 67 years ago in 1957, IRS BUFFALO FEDERAL CREDIT UNION has about 783 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:IRS BUFFALO FEDERAL CREDIT UNION
Address:
(Main Office)
130 S Elmwood Ave
BUFFALO, NY 14202-2465
Phone:(716) 854-3714
Fax:(716) 854-3108
Website:https://www.irsbflofcu.org
Branches:2 branch locations
Members:783
Credit Union Type:Federal Credit Union
Charter Number:11524
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1957
Last Audited:Jun 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$5,776,955
CEO/Manager:Lori Makowski
Chairperson:Barbara Kalinowski

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 526,655
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 992,303
 Unsecured Loans 755,691
 Other Loans 3,386,205
 TOTAL LOANS 5,134,199
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -110,061
 Land And Building 0
 Other Fixed Assets 3,434
 NCUSIF Deposit 56,262
 All Other Assets 0
  TOTAL ASSETS 5,776,955
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 24,326
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 915,405
 Regular shares 3,765,843
 All Other Shares & Deposits 810,597
  TOTAL SHARES & DEPOSITS 5,491,845
  TOTAL LIABILITIES 5,516,171
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 260,784
  TOTAL EQUITY 260,784
  TOTAL LIABILITIES, SHARES, & EQUITY 5,776,955
INCOME & EXPENSE  
 Loan Income 266,426
 Investment Income 29,692
 Other Income 37,450
 Total Employee Compensation & Benefits 117,737
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 141,894
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 144,831
 Cost of Funds 23,559
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -71,803
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