Dec, 31, 2023 — ADVANCED FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in NEW PROVIDENCE, NJ with 4 branch locations and about $110.33 million in total assets. Opened 59 years ago in 1965, ADVANCED FINANCIAL FEDERAL CREDIT UNION has about 6,978 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ADVANCED FINANCIAL FEDERAL CREDIT UNION |
---|---|
Address: (Main Office) | 785 CENTRAL AVE NEW PROVIDENCE, NJ 07974 |
Phone: | (908) 771-0300 |
Fax: | (908) 771-9349 |
Website: | https://www.advfinfcu.com |
Branches: | 4 branch locations |
Members: | 6,978 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 16785 |
---|---|
Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1965 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $110,333,722 |
CEO/Manager: | Sandra S Mullins |
Chairperson: | Arthur Marquardt |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 8,773,103 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 43,977,086 |
Unsecured Loans | 3,648,914 |
Other Loans | 7,015,327 |
TOTAL LOANS | 54,641,327 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -605,072 |
Land And Building | 557,650 |
Other Fixed Assets | 697,023 |
NCUSIF Deposit | 899,818 |
All Other Assets | 0 |
TOTAL ASSETS | 110,333,722 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 3,000,000 |
Accounts Payable & Other Liabilities | 1,253,243 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 15,715,780 |
Regular shares | 45,298,765 |
All Other Shares & Deposits | 30,699,890 |
TOTAL SHARES & DEPOSITS | 91,714,435 |
TOTAL LIABILITIES | 95,967,678 |
Regular Reserve | 0 |
Other Reserves | 3,047,342 |
Undivided Earnings | 11,318,702 |
TOTAL EQUITY | 14,366,044 |
TOTAL LIABILITIES, SHARES, & EQUITY | 110,333,722 |
INCOME & EXPENSE | |
Loan Income | 2,925,705 |
Investment Income | 1,173,025 |
Other Income | 607,794 |
Total Employee Compensation & Benefits | 1,960,354 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,666,729 |
Non-operating Income & (Expense) | 41,159 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 167,677 |
Cost of Funds | 837,252 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 433,926 |
↑ Back to Top |