Dec, 31, 2023 — COMMUNITY FINANCIAL SERVICES FEDERAL CREDIT UNION is a federal credit union headquartered in ROSELLE, NJ with 1 branch location and about $34.69 million in total assets. Opened 75 years ago in 1949, COMMUNITY FINANCIAL SERVICES FEDERAL CREDIT UNION has about 3,523 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMUNITY FINANCIAL SERVICES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 149 Saint George Ave ROSELLE, NJ 07203-2936 |
| Phone: | (908) 245-1650 |
| Fax: | (908) 245-1651 |
| Website: | https://cfsfcu.com |
| Branches: | 1 branch locations |
| Members: | 3,523 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6179 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $34,690,204 |
| CEO/Manager: | Kelly Weiss |
| Chairperson: | Samuel Jones |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,403,414 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,460,473 |
| Unsecured Loans | 1,716,933 |
| Other Loans | 5,301,256 |
| TOTAL LOANS | 13,478,662 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -856,431 |
| Land And Building | 1,920,200 |
| Other Fixed Assets | 27,472 |
| NCUSIF Deposit | 331,460 |
| All Other Assets | 0 |
| TOTAL ASSETS | 34,690,204 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 376 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 38,097 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,662,119 |
| Regular shares | 21,426,307 |
| All Other Shares & Deposits | 5,096,460 |
| TOTAL SHARES & DEPOSITS | 31,184,886 |
| TOTAL LIABILITIES | 31,223,359 |
| Regular Reserve | 0 |
| Other Reserves | 2,302,084 |
| Undivided Earnings | 1,164,761 |
| TOTAL EQUITY | 3,466,845 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 34,690,204 |
| INCOME & EXPENSE | |
| Loan Income | 715,325 |
| Investment Income | 439,792 |
| Other Income | 275,133 |
| Total Employee Compensation & Benefits | 741,755 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 733,058 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,129 |
| Cost of Funds | 45,682 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -30,397 |
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