Dec, 31, 2023 — NEW COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, NJ with 1 branch location and about $3.30 million in total assets. Opened 40 years ago in 1984, NEW COMMUNITY FEDERAL CREDIT UNION has about 3,641 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEW COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 274 S Orange Ave NEWARK, NJ 07103-2419 |
| Phone: | (973) 621-2363 |
| Fax: | |
| Website: | https://www.newcommunityfcu.org |
| Branches: | 1 branch locations |
| Members: | 3,641 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24167 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1984 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,299,526 |
| CEO/Manager: | Mulu Gebreyesus |
| Chairperson: | Richard Cammarieri |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,347,485 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,074,362 |
| Unsecured Loans | 27,509 |
| Other Loans | 0 |
| TOTAL LOANS | 1,101,871 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,479 |
| Land And Building | 0 |
| Other Fixed Assets | 3,829 |
| NCUSIF Deposit | 30,044 |
| All Other Assets | 0 |
| TOTAL ASSETS | 3,299,526 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 50 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 27,505 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 140,636 |
| Regular shares | 2,189,119 |
| All Other Shares & Deposits | 540,151 |
| TOTAL SHARES & DEPOSITS | 2,869,907 |
| TOTAL LIABILITIES | 2,897,462 |
| Regular Reserve | 0 |
| Other Reserves | 20,384 |
| Undivided Earnings | 381,680 |
| TOTAL EQUITY | 402,064 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,299,526 |
| INCOME & EXPENSE | |
| Loan Income | 59,688 |
| Investment Income | 66,810 |
| Other Income | 47,851 |
| Total Employee Compensation & Benefits | 203,032 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 175,783 |
| Non-operating Income & (Expense) | 231,581 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,486 |
| Cost of Funds | 4,275 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 21,354 |
| ↑ Back to Top | |