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NEWARK FIREMEN FEDERAL CREDIT UNION

Dec, 31, 2023 — NEWARK FIREMEN FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, NJ with 1 branch location and about $10.51 million in total assets. Opened 84 years ago in 1940, NEWARK FIREMEN FEDERAL CREDIT UNION has about 1,875 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:NEWARK FIREMEN FEDERAL CREDIT UNION
Address:
(Main Office)
106 Fleming Ave
NEWARK, NJ 07105-4015
Phone:(973) 589-7199
Fax:(973) 589-7494
Website:https://newarkfiremenfcu.org
Branches:1 branch locations
Members:1,875
Credit Union Type:Federal Credit Union
Charter Number:4175
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1940
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$10,512,271
CEO/Manager:Chintan K Desai
Chairperson:John M Doll

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 321,587
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 534,623
 Unsecured Loans 1,167,950
 Other Loans 1,563,164
 TOTAL LOANS 3,265,737
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -144,761
 Land And Building 443,217
 Other Fixed Assets 16,124
 NCUSIF Deposit 110,636
 All Other Assets 0
  TOTAL ASSETS 10,512,271
LIABILITIES & CAPITAL:  
 Dividends Payable 3
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 385,279
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 715,636
 Regular shares 8,394,623
 All Other Shares & Deposits 378,553
  TOTAL SHARES & DEPOSITS 9,488,812
  TOTAL LIABILITIES 9,874,094
 Regular Reserve 0
 Other Reserves 8,542
 Undivided Earnings 629,635
  TOTAL EQUITY 638,177
  TOTAL LIABILITIES, SHARES, & EQUITY 10,512,271
INCOME & EXPENSE  
 Loan Income 222,195
 Investment Income 196,981
 Other Income 34,567
 Total Employee Compensation & Benefits 203,778
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 381,282
 Non-operating Income & (Expense) 21,699
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 83,203
 Cost of Funds 26,909
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -196,922
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