Dec, 31, 2023 — SCRANTON TIMES DOWNTOWN FEDERAL CREDIT UNION is a federal credit union headquartered in SCRANTON, PA with 1 branch location and about $14.08 million in total assets. Opened 61 years ago in 1963, SCRANTON TIMES DOWNTOWN FEDERAL CREDIT UNION has about 1,747 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SCRANTON TIMES DOWNTOWN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 129 Penn Ave SCRANTON, PA 18503-2015 |
| Phone: | (570) 348-9192 |
| Fax: | (570) 207-2294 |
| Website: | https://www.scrantontimesefcu.com |
| Branches: | 1 branch locations |
| Members: | 1,747 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15591 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $14,077,800 |
| CEO/Manager: | Carole M Hughes |
| Chairperson: | Patrick McKenna |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,393,281 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,182,930 |
| Unsecured Loans | 349,361 |
| Other Loans | 914,429 |
| TOTAL LOANS | 6,446,720 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,759 |
| Land And Building | 0 |
| Other Fixed Assets | 7,461 |
| NCUSIF Deposit | 117,197 |
| All Other Assets | 0 |
| TOTAL ASSETS | 14,077,800 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 302 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 5,450 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,281,973 |
| Regular shares | 10,188,342 |
| All Other Shares & Deposits | 351,689 |
| TOTAL SHARES & DEPOSITS | 12,822,004 |
| TOTAL LIABILITIES | 12,827,756 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,250,044 |
| TOTAL EQUITY | 1,250,044 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 14,077,800 |
| INCOME & EXPENSE | |
| Loan Income | 308,914 |
| Investment Income | 299,880 |
| Other Income | 28,040 |
| Total Employee Compensation & Benefits | 279,563 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 223,345 |
| Non-operating Income & (Expense) | 98,136 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 879 |
| Cost of Funds | 2,816 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 228,367 |
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