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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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