Dec, 31, 2023 — NJ GATEWAY FEDERAL CREDIT UNION is a federal credit union headquartered in MONMOUTH JUNCTION, NJ with 1 branch location and about $29.29 million in total assets. Opened 55 years ago in 1969, NJ GATEWAY FEDERAL CREDIT UNION has about 2,481 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NJ GATEWAY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 100 Culver Rd MONMOUTH JUNCTION, NJ 08852 |
| Phone: | (732) 329-3838 |
| Fax: | (732) 329-8624 |
| Website: | https://www.njgateway.org |
| Branches: | 1 branch locations |
| Members: | 2,481 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19454 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,287,148 |
| CEO/Manager: | Pierina Pantano |
| Chairperson: | Peter Manfredo |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,027,938 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,838,537 |
| Unsecured Loans | 768,831 |
| Other Loans | 1,330,286 |
| TOTAL LOANS | 4,937,654 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -35,557 |
| Land And Building | 212,155 |
| Other Fixed Assets | 20,301 |
| NCUSIF Deposit | 267,180 |
| All Other Assets | 0 |
| TOTAL ASSETS | 29,287,148 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 50,106 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 97,883 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,360,291 |
| Regular shares | 10,339,215 |
| All Other Shares & Deposits | 8,743,584 |
| TOTAL SHARES & DEPOSITS | 26,443,090 |
| TOTAL LIABILITIES | 26,591,079 |
| Regular Reserve | 0 |
| Other Reserves | 701,081 |
| Undivided Earnings | 1,994,988 |
| TOTAL EQUITY | 2,696,069 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,287,148 |
| INCOME & EXPENSE | |
| Loan Income | 283,657 |
| Investment Income | 261,348 |
| Other Income | 33,980 |
| Total Employee Compensation & Benefits | 356,739 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 349,316 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,400 |
| Cost of Funds | 66,812 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -107,266 |
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