Dec, 31, 2023 — MOTION FEDERAL CREDIT UNION is a federal credit union headquartered in LINDEN, NJ with 6 branch locations and about $65.70 million in total assets. Opened 90 years ago in 1934, MOTION FEDERAL CREDIT UNION has about 5,337 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MOTION FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 360 N Wood Ave LINDEN, NJ 07036 |
| Phone: | (908) 862-6966 |
| Fax: | (908) 862-6961 |
| Website: | https://www.motionfcu.org |
| Branches: | 6 branch locations |
| Members: | 5,337 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 53 |
|---|---|
| Membership Type: | Multiple common bond - Primarily petroleum refining |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $65,702,405 |
| CEO/Manager: | Michael Greenwood |
| Chairperson: | Marty Grozinski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,087,784 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 28,104,245 |
| Unsecured Loans | 3,768,033 |
| Other Loans | 7,825,577 |
| TOTAL LOANS | 39,697,856 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -276,900 |
| Land And Building | 1,455,771 |
| Other Fixed Assets | 57,303 |
| NCUSIF Deposit | 589,338 |
| All Other Assets | 0 |
| TOTAL ASSETS | 65,702,405 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 980,783 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,881,806 |
| Regular shares | 35,929,986 |
| All Other Shares & Deposits | 5,214,171 |
| TOTAL SHARES & DEPOSITS | 60,025,964 |
| TOTAL LIABILITIES | 61,006,747 |
| Regular Reserve | 0 |
| Other Reserves | -740,034 |
| Undivided Earnings | 5,435,692 |
| TOTAL EQUITY | 4,695,658 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 65,702,405 |
| INCOME & EXPENSE | |
| Loan Income | 1,986,948 |
| Investment Income | 729,925 |
| Other Income | 281,704 |
| Total Employee Compensation & Benefits | 1,038,783 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,525,933 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 98,721 |
| Cost of Funds | 65,440 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 599,583 |
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