Dec, 31, 2023 — AFFINITY FEDERAL CREDIT UNION is a federal credit union headquartered in BASKING RIDGE, NJ with 22 branch locations and about $4.27 billion in total assets. Opened 89 years ago in 1935, AFFINITY FEDERAL CREDIT UNION has about 232,404 members and employs 505 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | AFFINITY FEDERAL CREDIT UNION |
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Address: (Main Office) | 73 Mountainview Blvd BASKING RIDGE, NJ 07920-3849 |
Phone: | (908) 860-7208 |
Fax: | |
Website: | https://www.affinityfcu.com |
Branches: | 22 branch locations |
Members: | 232,404 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 857 |
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Membership Type: | Multiple common bond - Primarily communications and utilities |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $4,273,018,108 |
CEO/Manager: | Kevin Brauer |
Chairperson: | Richard Meene |
ASSETS: | $ Amount |
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Cash & Equivalents | 68,108,531 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,624,462,772 |
Unsecured Loans | 264,561,978 |
Other Loans | 952,159,931 |
TOTAL LOANS | 3,841,184,681 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -58,790,131 |
Land And Building | 3,130,635 |
Other Fixed Assets | 5,680,672 |
NCUSIF Deposit | 30,172,389 |
All Other Assets | 244,650 |
TOTAL ASSETS | 4,273,018,108 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 19,214 |
Notes & Interest Payable | 460,499,147 |
Accounts Payable & Other Liabilities | 79,502,700 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 696,946,926 |
Regular shares | 1,433,809,622 |
All Other Shares & Deposits | 1,289,097,795 |
TOTAL SHARES & DEPOSITS | 3,419,854,343 |
TOTAL LIABILITIES | 3,959,875,404 |
Regular Reserve | 0 |
Other Reserves | 25,374,740 |
Undivided Earnings | 287,767,964 |
TOTAL EQUITY | 313,142,704 |
TOTAL LIABILITIES, SHARES, & EQUITY | 4,273,018,108 |
INCOME & EXPENSE | |
Loan Income | 190,502,753 |
Investment Income | 11,811,431 |
Other Income | 11,810,179 |
Total Employee Compensation & Benefits | 59,352,170 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 68,730,553 |
Non-operating Income & (Expense) | 92,478 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 53,592,981 |
Cost of Funds | 90,238,507 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -30,837,016 |
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