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ADVANCED FINANCIAL FEDERAL CREDIT UNION

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.


ABA Routing Number: 221276817
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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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
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