Dec, 31, 2023 — QUORUM FEDERAL CREDIT UNION is a federal credit union headquartered in PURCHASE, NY with 1 branch location and about $1.09 billion in total assets. Opened 47 years ago in 1977, QUORUM FEDERAL CREDIT UNION has about 68,318 members and employs 145 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | QUORUM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2500 Westchester Ave PURCHASE, NY 10577-2587 |
| Phone: | (914) 641-3700 |
| Fax: | (914) 641-3730 |
| Website: | https://quorumfcu.org |
| Branches: | 1 branch locations |
| Members: | 68,318 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 22769 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1977 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,088,492,805 |
| CEO/Manager: | Jeff Pachter |
| Chairperson: | Jim Ingold |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 207,838,639 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 489,809,999 |
| Unsecured Loans | 91,998,721 |
| Other Loans | 172,385,695 |
| TOTAL LOANS | 754,194,413 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,900,000 |
| Land And Building | 0 |
| Other Fixed Assets | 6,519,245 |
| NCUSIF Deposit | 8,719,392 |
| All Other Assets | 2,163,413 |
| TOTAL ASSETS | 1,088,492,805 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 40,907,402 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 5,908,333 |
| Share Drafts | 96,704,564 |
| Regular shares | 439,642,878 |
| All Other Shares & Deposits | 424,463,116 |
| TOTAL SHARES & DEPOSITS | 960,810,559 |
| TOTAL LIABILITIES | 1,008,976,163 |
| Regular Reserve | 0 |
| Other Reserves | 5,671,279 |
| Undivided Earnings | 73,845,363 |
| TOTAL EQUITY | 79,516,642 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,088,492,805 |
| INCOME & EXPENSE | |
| Loan Income | 53,561,066 |
| Investment Income | 9,704,406 |
| Other Income | 5,263,494 |
| Total Employee Compensation & Benefits | 20,184,531 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 16,085,469 |
| Non-operating Income & (Expense) | 108,832 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,993,744 |
| Cost of Funds | 29,877,498 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,349,490 |
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