Dec, 31, 2023 — BLOOMFIELD FIRE AND POLICE FEDERAL CREDIT UNION is a federal credit union headquartered in BLOOMFIELD, NJ with 1 branch location and about $9.58 million in total assets. Opened 73 years ago in 1951, BLOOMFIELD FIRE AND POLICE FEDERAL CREDIT UNION has about 1,309 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BLOOMFIELD FIRE AND POLICE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 375 Franklin St BLOOMFIELD, NJ 07003-3414 |
| Phone: | (973) 680-4123 |
| Fax: | (973) 680-4217 |
| Website: | https://bfpfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,309 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7069 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,583,577 |
| CEO/Manager: | Louis Venezia |
| Chairperson: | Joseph Coletta |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 489,597 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,660,877 |
| Other Loans | 5,762,705 |
| TOTAL LOANS | 7,423,582 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -119,536 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 64,934 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,583,577 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 80,774 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,274 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,515,449 |
| All Other Shares & Deposits | 3,595,552 |
| TOTAL SHARES & DEPOSITS | 8,111,001 |
| TOTAL LIABILITIES | 8,200,049 |
| Regular Reserve | 0 |
| Other Reserves | 205,000 |
| Undivided Earnings | 1,178,528 |
| TOTAL EQUITY | 1,383,528 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,583,577 |
| INCOME & EXPENSE | |
| Loan Income | 389,724 |
| Investment Income | 28,053 |
| Other Income | 1,859 |
| Total Employee Compensation & Benefits | 179,995 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 61,335 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 23,551 |
| Cost of Funds | 115,106 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 39,649 |
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