Dec, 31, 2023 — NEWARK POST OFFICE EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in NEWARK, NJ with 1 branch location and about $2.52 million in total assets. Opened 100 years ago in 1924, NEWARK POST OFFICE EMPLOYEES CREDIT UNION has about 969 members and employs 6 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 POST OFFICE EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 2 Federal Sq NEWARK, NJ 07102-3515 |
| Phone: | (973) 621-7553 |
| Fax: | (973) 621-6408 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 969 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66159 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1924 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,521,544 |
| CEO/Manager: | DENISE BOYD |
| Chairperson: | Cedric McPherson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,241,762 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 653,881 |
| Other Loans | 0 |
| TOTAL LOANS | 653,881 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -52,395 |
| Land And Building | 0 |
| Other Fixed Assets | 6,167 |
| NCUSIF Deposit | 19,362 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,521,544 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,056 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,592,003 |
| All Other Shares & Deposits | 47,500 |
| TOTAL SHARES & DEPOSITS | 1,639,503 |
| TOTAL LIABILITIES | 1,642,559 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 878,985 |
| TOTAL EQUITY | 878,985 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,521,544 |
| INCOME & EXPENSE | |
| Loan Income | 143,497 |
| Investment Income | 30,770 |
| Other Income | 9,650 |
| Total Employee Compensation & Benefits | 121,333 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 100,084 |
| Non-operating Income & (Expense) | 13,720 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 14,468 |
| Cost of Funds | 13,462 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -51,456 |
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