Dec, 31, 2023 — TOWPATH CREDIT UNION is a non-federally insured state credit union headquartered in FAIRLAWN, OH with 4 branch locations and about $198.06 million in total assets. Opened 2024 years ago in 0, TOWPATH CREDIT UNION has about 24,816 members and employs 70 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TOWPATH CREDIT UNION |
|---|---|
| Address: (Main Office) | 2969 Smith Rd FAIRLAWN, OH 44333 |
| Phone: | (330) 664-4700 |
| Fax: | (330) 664-4799 |
| Website: | https://www.towpathcu.com |
| Branches: | 4 branch locations |
| Members: | 24,816 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 96658 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 0 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $198,057,788 |
| CEO/Manager: | Michael Sferro |
| Chairperson: | Lester N Carney, Sr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,889,071 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 35,632,225 |
| Unsecured Loans | 17,350,896 |
| Other Loans | 78,973,333 |
| TOTAL LOANS | 131,956,454 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -985,492 |
| Land And Building | 3,340,502 |
| Other Fixed Assets | 1,551,124 |
| NCUSIF Deposit | 0 |
| All Other Assets | 11,943 |
| TOTAL ASSETS | 198,057,788 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,085,391 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 27,351,111 |
| Regular shares | 90,817,939 |
| All Other Shares & Deposits | 57,650,959 |
| TOTAL SHARES & DEPOSITS | 175,820,009 |
| TOTAL LIABILITIES | 177,905,400 |
| Regular Reserve | 0 |
| Other Reserves | 4,052,789 |
| Undivided Earnings | 16,099,599 |
| TOTAL EQUITY | 20,152,388 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 198,057,788 |
| INCOME & EXPENSE | |
| Loan Income | 7,635,687 |
| Investment Income | 1,164,210 |
| Other Income | 2,533,467 |
| Total Employee Compensation & Benefits | 4,387,789 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,233,139 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 738,404 |
| Cost of Funds | 1,231,579 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,027,387 |
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