Dec, 31, 2023 — MOHAWK VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in MARCY, NY with 2 branch locations and about $46.58 million in total assets. Opened 53 years ago in 1971, MOHAWK VALLEY FEDERAL CREDIT UNION has about 3,254 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MOHAWK VALLEY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9212 River Rd MARCY, NY 13403 |
| Phone: | (315) 624-2950 |
| Fax: | (315) 624-2954 |
| Website: | https://www.mohawkvalleyfcu.org |
| Branches: | 2 branch locations |
| Members: | 3,254 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 20823 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1971 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $46,576,888 |
| CEO/Manager: | JAIME S McCLOSKEY |
| Chairperson: | Brian Scala |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,284,735 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,792,846 |
| Unsecured Loans | 3,686,261 |
| Other Loans | 19,205,111 |
| TOTAL LOANS | 26,684,218 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -52,977 |
| Land And Building | 0 |
| Other Fixed Assets | 133,961 |
| NCUSIF Deposit | 412,375 |
| All Other Assets | 0 |
| TOTAL ASSETS | 46,576,888 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 123,053 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,773,130 |
| Regular shares | 21,180,014 |
| All Other Shares & Deposits | 11,146,320 |
| TOTAL SHARES & DEPOSITS | 40,099,464 |
| TOTAL LIABILITIES | 40,222,517 |
| Regular Reserve | 0 |
| Other Reserves | 356,106 |
| Undivided Earnings | 5,998,265 |
| TOTAL EQUITY | 6,354,371 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 46,576,888 |
| INCOME & EXPENSE | |
| Loan Income | 1,218,856 |
| Investment Income | 334,553 |
| Other Income | 69,633 |
| Total Employee Compensation & Benefits | 553,364 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 776,639 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,646 |
| Cost of Funds | 151,871 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 352,684 |
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