Dec, 31, 2023 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 2 branch locations and about $22.62 million in total assets. Opened 88 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 3,937 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 125 Franklin St BLOOMFIELD, NJ 07003-5730 |
| Phone: | (973) 748-8847 |
| Fax: | (973) 748-8846 |
| Website: | https://www.ectcu.org |
| Branches: | 2 branch locations |
| Members: | 3,937 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1131 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $22,619,643 |
| CEO/Manager: | Robert D Steeves |
| Chairperson: | Kenneth King |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,698,553 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,962,899 |
| Unsecured Loans | 2,986,588 |
| Other Loans | 5,057,873 |
| TOTAL LOANS | 10,007,360 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -219,721 |
| Land And Building | 132,053 |
| Other Fixed Assets | 16,468 |
| NCUSIF Deposit | 217,343 |
| All Other Assets | 0 |
| TOTAL ASSETS | 22,619,643 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 365,942 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,813,211 |
| Regular shares | 16,378,053 |
| All Other Shares & Deposits | 2,429,906 |
| TOTAL SHARES & DEPOSITS | 20,621,170 |
| TOTAL LIABILITIES | 20,987,112 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,632,531 |
| TOTAL EQUITY | 1,632,531 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 22,619,643 |
| INCOME & EXPENSE | |
| Loan Income | 745,175 |
| Investment Income | 284,590 |
| Other Income | 195,840 |
| Total Employee Compensation & Benefits | 459,903 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 410,422 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 205,000 |
| Cost of Funds | 42,102 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 182,975 |
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