Dec, 31, 2023 — NIAGARA'S CHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in NIAGARA FALLS, NY with 6 branch locations and about $255.68 million in total assets. Opened 71 years ago in 1953, NIAGARA'S CHOICE FEDERAL CREDIT UNION has about 22,880 members and employs 57 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NIAGARA'S CHOICE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3619 Packard Rd NIAGARA FALLS, NY 14303-2224 |
| Phone: | (716) 284-4110 |
| Fax: | (716) 284-4123 |
| Website: | https://www.niagaraschoice.org |
| Branches: | 6 branch locations |
| Members: | 22,880 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8693 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jul 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $255,684,195 |
| CEO/Manager: | Daniel Keleher |
| Chairperson: | Margo Hall |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,302,876 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 69,721,629 |
| Unsecured Loans | 16,917,612 |
| Other Loans | 71,098,793 |
| TOTAL LOANS | 157,771,865 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,006,131 |
| Land And Building | 1,898,217 |
| Other Fixed Assets | 391,083 |
| NCUSIF Deposit | 2,469,193 |
| All Other Assets | 0 |
| TOTAL ASSETS | 255,684,195 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,699,404 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 46,507,806 |
| Regular shares | 160,257,519 |
| All Other Shares & Deposits | 29,605,318 |
| TOTAL SHARES & DEPOSITS | 236,370,643 |
| TOTAL LIABILITIES | 239,070,047 |
| Regular Reserve | 0 |
| Other Reserves | -3,228,759 |
| Undivided Earnings | 19,842,907 |
| TOTAL EQUITY | 16,614,148 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 255,684,195 |
| INCOME & EXPENSE | |
| Loan Income | 6,994,435 |
| Investment Income | 1,231,114 |
| Other Income | 586,580 |
| Total Employee Compensation & Benefits | 4,226,553 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,993,721 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 530,699 |
| Cost of Funds | 780,046 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 757,570 |
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