Dec, 31, 2023 — NIAGARA FRONTIER FEDERAL MUNICIPAL CREDIT UNION is a federally insured state chartered credit union headquartered in NIAGARA FALLS, NY with 1 branch location and about $2.71 million in total assets. Opened 93 years ago in 1931, NIAGARA FRONTIER FEDERAL MUNICIPAL CREDIT UNION has about 335 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NIAGARA FRONTIER FEDERAL MUNICIPAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 615 Main St NIAGARA FALLS, NY 14302 |
| Phone: | (716) 284-2161 |
| Fax: | (716) 282-4023 |
| Website: | https://nffmecu.com/ |
| Branches: | 1 branch locations |
| Members: | 335 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63793 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1931 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,714,766 |
| CEO/Manager: | Michele Fritzke |
| Chairperson: | Philip D Young |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 950,080 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 271,088 |
| Other Loans | 913,672 |
| TOTAL LOANS | 1,184,760 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | 31,426 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 27,663 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,714,766 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,939 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 246,962 |
| Regular shares | 1,897,922 |
| All Other Shares & Deposits | 206,657 |
| TOTAL SHARES & DEPOSITS | 2,351,541 |
| TOTAL LIABILITIES | 2,354,480 |
| Regular Reserve | 0 |
| Other Reserves | 172,457 |
| Undivided Earnings | 187,829 |
| TOTAL EQUITY | 360,286 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,714,766 |
| INCOME & EXPENSE | |
| Loan Income | 68,024 |
| Investment Income | 60,506 |
| Other Income | 15,808 |
| Total Employee Compensation & Benefits | 80,070 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 62,878 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 2,285 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 342 |
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