Dec, 31, 2023 — M. C. T. FEDERAL CREDIT UNION is a federal credit union headquartered in AMSTERDAM, NY with 1 branch location and about $67.03 million in total assets. Opened 64 years ago in 1960, M. C. T. FEDERAL CREDIT UNION has about 3,252 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | M. C. T. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4883 State Highway 30 AMSTERDAM, NY 12010 |
| Phone: | (518) 842-1840 |
| Fax: | (518) 842-3955 |
| Website: | https://mct-fcu.org |
| Branches: | 1 branch locations |
| Members: | 3,252 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13766 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $67,025,417 |
| CEO/Manager: | PATTY MACEK |
| Chairperson: | STUART PALCZAK |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,000,276 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,761,790 |
| Unsecured Loans | 1,194,516 |
| Other Loans | 5,437,677 |
| TOTAL LOANS | 10,393,983 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,366 |
| Land And Building | 893,787 |
| Other Fixed Assets | 145,665 |
| NCUSIF Deposit | 607,393 |
| All Other Assets | 0 |
| TOTAL ASSETS | 67,025,417 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 12,690 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 129,847 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,631,428 |
| Regular shares | 46,377,348 |
| All Other Shares & Deposits | 1,989,125 |
| TOTAL SHARES & DEPOSITS | 58,997,901 |
| TOTAL LIABILITIES | 59,140,438 |
| Regular Reserve | 0 |
| Other Reserves | 990,552 |
| Undivided Earnings | 6,894,427 |
| TOTAL EQUITY | 7,884,979 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 67,025,417 |
| INCOME & EXPENSE | |
| Loan Income | 429,339 |
| Investment Income | 1,796,781 |
| Other Income | 56,970 |
| Total Employee Compensation & Benefits | 555,579 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 513,129 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,000 |
| Cost of Funds | 149,949 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,126,865 |
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