Dec, 31, 2023 — PROPONENT FEDERAL CREDIT UNION is a federal credit union headquartered in NUTLEY, NJ with 3 branch locations and about $498.68 million in total assets. Opened 53 years ago in 1971, PROPONENT FEDERAL CREDIT UNION has about 19,187 members and employs 65 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PROPONENT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 536 Washington Ave NUTLEY, NJ 07110 |
| Phone: | (973) 338-1133 |
| Fax: | |
| Website: | https://www.profcu.org |
| Branches: | 3 branch locations |
| Members: | 19,187 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 20448 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1971 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $498,684,975 |
| CEO/Manager: | Debra A VanDorn |
| Chairperson: | Sharon Delaney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,013,029 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 336,050,304 |
| Unsecured Loans | 35,095,309 |
| Other Loans | 48,673,866 |
| TOTAL LOANS | 419,819,479 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,816,600 |
| Land And Building | 10,982,751 |
| Other Fixed Assets | 1,021,486 |
| NCUSIF Deposit | 4,006,878 |
| All Other Assets | 0 |
| TOTAL ASSETS | 498,684,975 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 50,296 |
| Notes & Interest Payable | 8,000,000 |
| Accounts Payable & Other Liabilities | 7,410,333 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 85,852,987 |
| Regular shares | 136,229,530 |
| All Other Shares & Deposits | 198,323,852 |
| TOTAL SHARES & DEPOSITS | 420,406,370 |
| TOTAL LIABILITIES | 435,866,999 |
| Regular Reserve | 0 |
| Other Reserves | -6,496,698 |
| Undivided Earnings | 69,314,674 |
| TOTAL EQUITY | 62,817,976 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 498,684,975 |
| INCOME & EXPENSE | |
| Loan Income | 20,728,193 |
| Investment Income | 1,511,009 |
| Other Income | 3,821,433 |
| Total Employee Compensation & Benefits | 9,289,126 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,882,093 |
| Non-operating Income & (Expense) | 576,387 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,232,329 |
| Cost of Funds | 4,039,113 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,319,029 |
| ↑ Back to Top | |