Dec, 31, 2023 — I.L.A. LOCAL 1235 FEDERAL CREDIT UNION is a federal credit union headquartered in SPRINGFIELD, NJ with 1 branch location and about $7.06 million in total assets. Opened 43 years ago in 1981, I.L.A. LOCAL 1235 FEDERAL CREDIT UNION has about 577 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | I.L.A. LOCAL 1235 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 327 Milltown RD SPRINGFIELD, NJ 07081 |
| Phone: | (973) 344-8660 |
| Fax: | (973) 732-1698 |
| Website: | https://www.ila1235fcu.com |
| Branches: | 1 branch locations |
| Members: | 577 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23807 |
|---|---|
| Membership Type: | Associational - Fraternal, other than those designated 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1981 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $7,056,294 |
| CEO/Manager: | Linda Cernadas |
| Chairperson: | James Anderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 288,365 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 2,219,358 |
| Other Loans | 2,211,915 |
| TOTAL LOANS | 4,431,273 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,712 |
| Land And Building | 6,923 |
| Other Fixed Assets | 3,169 |
| NCUSIF Deposit | 76,114 |
| All Other Assets | 0 |
| TOTAL ASSETS | 7,056,294 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 11,771 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 232,114 |
| Regular shares | 5,807,788 |
| All Other Shares & Deposits | 60,492 |
| TOTAL SHARES & DEPOSITS | 6,100,394 |
| TOTAL LIABILITIES | 6,112,165 |
| Regular Reserve | 0 |
| Other Reserves | 232,791 |
| Undivided Earnings | 711,338 |
| TOTAL EQUITY | 944,129 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,056,294 |
| INCOME & EXPENSE | |
| Loan Income | 325,667 |
| Investment Income | -20,034 |
| Other Income | 17,990 |
| Total Employee Compensation & Benefits | 299,933 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 109,479 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -1,740 |
| Cost of Funds | 4,042 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -81,785 |
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