Dec, 31, 2023 — MID-STATE FEDERAL CREDIT UNION is a federal credit union headquartered in CARTERET, NJ with 2 branch locations and about $20.55 million in total assets. Opened 74 years ago in 1950, MID-STATE FEDERAL CREDIT UNION has about 849 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MID-STATE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 217 Roosevelt Ave CARTERET, NJ 07008 |
| Phone: | (732) 541-4151 |
| Fax: | (732) 541-4449 |
| Website: | https://www.midstatefcu.org |
| Branches: | 2 branch locations |
| Members: | 849 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6739 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $20,546,027 |
| CEO/Manager: | Tracy Sussmann |
| Chairperson: | Frank Roche |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,353,619 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,851,066 |
| Unsecured Loans | 4,634,229 |
| Other Loans | 770,170 |
| TOTAL LOANS | 7,255,465 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -354,024 |
| Land And Building | 3,121,257 |
| Other Fixed Assets | 165,510 |
| NCUSIF Deposit | 151,649 |
| All Other Assets | 0 |
| TOTAL ASSETS | 20,546,027 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,584,142 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,301,867 |
| Regular shares | 7,449,776 |
| All Other Shares & Deposits | 6,355,353 |
| TOTAL SHARES & DEPOSITS | 16,106,996 |
| TOTAL LIABILITIES | 17,691,138 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,854,889 |
| TOTAL EQUITY | 2,854,889 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 20,546,027 |
| INCOME & EXPENSE | |
| Loan Income | 671,463 |
| Investment Income | 193,247 |
| Other Income | 53,072 |
| Total Employee Compensation & Benefits | 291,631 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 481,687 |
| Non-operating Income & (Expense) | 905,421 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 168,492 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 884,964 |
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