Dec, 31, 2023 — 1ST BERGEN FEDERAL CREDIT UNION is a federal credit union headquartered in HACKENSACK, NJ with 3 branch locations and about $9.45 million in total assets. Opened 15 years ago in 2009, 1ST BERGEN FEDERAL CREDIT UNION has about 1,827 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | 1ST BERGEN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 392 Main St HACKENSACK, NJ 07601-5805 |
| Phone: | (201) 968-0202 |
| Fax: | (201) 968-0203 |
| Website: | https://www.1stbergen.com |
| Branches: | 3 branch locations |
| Members: | 1,827 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24810 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 2009 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,453,052 |
| CEO/Manager: | Robert Moore |
| Chairperson: | Gregory Jackson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,405,250 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,235,354 |
| Unsecured Loans | 661,753 |
| Other Loans | 1,852,483 |
| TOTAL LOANS | 5,749,589 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -167,750 |
| Land And Building | 241,999 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 44,774 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,453,052 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 67 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 965,412 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 1,330,000 |
| Share Drafts | 1,533,842 |
| Regular shares | 1,885,716 |
| All Other Shares & Deposits | 2,221,518 |
| TOTAL SHARES & DEPOSITS | 5,641,077 |
| TOTAL LIABILITIES | 7,936,556 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,516,496 |
| TOTAL EQUITY | 1,516,496 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,453,052 |
| INCOME & EXPENSE | |
| Loan Income | 252,843 |
| Investment Income | 44,610 |
| Other Income | 107,667 |
| Total Employee Compensation & Benefits | 315,168 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 511,506 |
| Non-operating Income & (Expense) | 578,233 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 66,510 |
| Cost of Funds | 46,456 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 43,713 |
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