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GREATER ALLIANCE FEDERAL CREDIT UNION

Dec, 31, 2023 — GREATER ALLIANCE FEDERAL CREDIT UNION is a federal credit union headquartered in PARAMUS, NJ with 3 branch locations and about $243.76 million in total assets. Opened 87 years ago in 1937, GREATER ALLIANCE FEDERAL CREDIT UNION has about 22,461 members and employs 57 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:GREATER ALLIANCE FEDERAL CREDIT UNION
Address:
(Main Office)
40 W Century Rd
PARAMUS, NJ 07652-1454
Phone:(888) 554-2328
Fax:(201) 986-7538
Website:https://www.greateralliance.org
Branches:3 branch locations
Members:22,461
Credit Union Type:Federal Credit Union
Charter Number:2182
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1937
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$243,764,685
CEO/Manager:Glenn Guinto
Chairperson:Richard Vega

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,691,941
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 134,669,359
 Unsecured Loans 32,867,482
 Other Loans 16,362,616
 TOTAL LOANS 183,910,938
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,736,641
 Land And Building 11,518,812
 Other Fixed Assets 715,317
 NCUSIF Deposit 2,119,659
 All Other Assets 0
  TOTAL ASSETS 243,764,685
LIABILITIES & CAPITAL:  
 Dividends Payable 271
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,485,209
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 27,870,017
 Regular shares 125,834,476
 All Other Shares & Deposits 65,457,022
  TOTAL SHARES & DEPOSITS 219,161,515
  TOTAL LIABILITIES 222,646,995
 Regular Reserve 0
 Other Reserves -457,001
 Undivided Earnings 21,574,691
  TOTAL EQUITY 21,117,690
  TOTAL LIABILITIES, SHARES, & EQUITY 243,764,685
INCOME & EXPENSE  
 Loan Income 10,655,645
 Investment Income 567,281
 Other Income 3,011,187
 Total Employee Compensation & Benefits 5,733,715
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,642,975
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,178,839
 Cost of Funds 2,525,233
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 57,191
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