Dec, 31, 2023 — PALCO FEDERAL CREDIT UNION (PALCO FCU) is a federal credit union headquartered in MUNCY, PA with 1 branch location and about $97.20 million in total assets. Opened 86 years ago in 1938, PALCO FEDERAL CREDIT UNION (PALCO FCU) has about 5,886 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PALCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 191 Chad Rd MUNCY, PA 17756-8146 |
| Phone: | (570) 546-2333 |
| Fax: | (570) 546-6868 |
| Website: | https://www.palcofcu.org |
| Branches: | 1 branch locations |
| Members: | 5,886 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2959 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $97,200,622 |
| CEO/Manager: | Scott F Naughton |
| Chairperson: | Bruce G Lamotte |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,779,667 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 11,421,981 |
| Unsecured Loans | 5,335,288 |
| Other Loans | 14,609,004 |
| TOTAL LOANS | 31,366,273 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -233,518 |
| Land And Building | 592,956 |
| Other Fixed Assets | 110,984 |
| NCUSIF Deposit | 876,832 |
| All Other Assets | 0 |
| TOTAL ASSETS | 97,200,622 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 73,417 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 349,457 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,051,496 |
| Regular shares | 48,962,732 |
| All Other Shares & Deposits | 21,488,944 |
| TOTAL SHARES & DEPOSITS | 87,503,172 |
| TOTAL LIABILITIES | 87,926,046 |
| Regular Reserve | 0 |
| Other Reserves | -1,745,565 |
| Undivided Earnings | 11,020,141 |
| TOTAL EQUITY | 9,274,576 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 97,200,622 |
| INCOME & EXPENSE | |
| Loan Income | 1,590,677 |
| Investment Income | 1,275,769 |
| Other Income | 341,152 |
| Total Employee Compensation & Benefits | 970,230 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,487,053 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 65,362 |
| Cost of Funds | 641,370 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 516,866 |
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