Dec, 31, 2023 — PINNACLE FEDERAL CREDIT UNION is a federal credit union headquartered in PARLIN, NJ with 3 branch locations and about $99.30 million in total assets. Opened 62 years ago in 1962, PINNACLE FEDERAL CREDIT UNION has about 11,815 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PINNACLE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2909 Washington Rd Ste 10 PARLIN, NJ 08859 |
| Phone: | (732) 225-1505 |
| Fax: | (732) 225-4572 |
| Website: | https://www.pinnaclefcu.com |
| Branches: | 3 branch locations |
| Members: | 11,815 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15095 |
|---|---|
| Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $99,301,054 |
| CEO/Manager: | Dennis J Fitzpatrick |
| Chairperson: | Nick Danza |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,382,469 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 35,006,349 |
| Unsecured Loans | 7,772,342 |
| Other Loans | 22,957,612 |
| TOTAL LOANS | 65,736,303 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -671,334 |
| Land And Building | 0 |
| Other Fixed Assets | 531,151 |
| NCUSIF Deposit | 940,857 |
| All Other Assets | 0 |
| TOTAL ASSETS | 99,301,054 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 605,816 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,807,676 |
| Regular shares | 37,930,566 |
| All Other Shares & Deposits | 32,322,267 |
| TOTAL SHARES & DEPOSITS | 94,060,509 |
| TOTAL LIABILITIES | 94,666,325 |
| Regular Reserve | 0 |
| Other Reserves | -2,905,866 |
| Undivided Earnings | 7,540,595 |
| TOTAL EQUITY | 4,634,729 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 99,301,054 |
| INCOME & EXPENSE | |
| Loan Income | 3,534,077 |
| Investment Income | 959,144 |
| Other Income | 726,787 |
| Total Employee Compensation & Benefits | 1,844,006 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,732,870 |
| Non-operating Income & (Expense) | 1,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 59,816 |
| Cost of Funds | 580,230 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 109,843 |
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