Dec, 31, 2023 — BAY ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in VINELAND, NJ with 2 branch locations and about $83.39 million in total assets. Opened 85 years ago in 1939, BAY ATLANTIC FEDERAL CREDIT UNION has about 9,290 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: | BAY ATLANTIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 101 W Elmer Rd VINELAND, NJ 08360-6312 |
| Phone: | (856) 696-2525 |
| Fax: | (856) 691-5593 |
| Website: | https://www.bayatlanticfcu.org |
| Branches: | 2 branch locations |
| Members: | 9,290 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3541 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $83,391,094 |
| CEO/Manager: | Gail R Marino |
| Chairperson: | David P Schad |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,333,675 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 12,986,581 |
| Unsecured Loans | 10,709,611 |
| Other Loans | 16,154,053 |
| TOTAL LOANS | 39,850,246 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -397,925 |
| Land And Building | 811,811 |
| Other Fixed Assets | 263,573 |
| NCUSIF Deposit | 798,411 |
| All Other Assets | 5,679 |
| TOTAL ASSETS | 83,391,094 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,259,370 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,271,039 |
| Regular shares | 48,067,861 |
| All Other Shares & Deposits | 10,360,053 |
| TOTAL SHARES & DEPOSITS | 75,698,953 |
| TOTAL LIABILITIES | 76,958,544 |
| Regular Reserve | 0 |
| Other Reserves | -895,585 |
| Undivided Earnings | 7,328,135 |
| TOTAL EQUITY | 6,432,550 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 83,391,094 |
| INCOME & EXPENSE | |
| Loan Income | 1,944,970 |
| Investment Income | 887,596 |
| Other Income | 1,300,534 |
| Total Employee Compensation & Benefits | 1,587,678 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,387,554 |
| Non-operating Income & (Expense) | 29,101 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 45,321 |
| Cost of Funds | 145,613 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 404,412 |
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