Dec, 31, 2023 — THE ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in SPRINGFIELD, NJ with 2 branch locations and about $244.28 million in total assets. Opened 89 years ago in 1935, THE ATLANTIC FEDERAL CREDIT UNION has about 16,370 members and employs 44 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | THE ATLANTIC FEDERAL CREDIT UNION |
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Address: (Main Office) | 2 Edison Pl SPRINGFIELD, NJ 07081 |
Phone: | (908) 245-1750 |
Fax: | |
Website: | https://web.atlfedcu.com |
Branches: | 2 branch locations |
Members: | 16,370 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 477 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $244,275,482 |
CEO/Manager: | Anthony Mero |
Chairperson: | Michael Locurcio |
ASSETS: | $ Amount |
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Cash & Equivalents | 8,700,357 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 83,402,899 |
Unsecured Loans | 88,083,948 |
Other Loans | 18,226,202 |
TOTAL LOANS | 189,713,049 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,029,349 |
Land And Building | 8,014,194 |
Other Fixed Assets | 1,060,437 |
NCUSIF Deposit | 2,100,958 |
All Other Assets | 0 |
TOTAL ASSETS | 244,275,482 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,113,007 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 23,042,234 |
Regular shares | 94,557,639 |
All Other Shares & Deposits | 92,533,404 |
TOTAL SHARES & DEPOSITS | 210,133,277 |
TOTAL LIABILITIES | 212,246,284 |
Regular Reserve | 0 |
Other Reserves | -1,920,481 |
Undivided Earnings | 33,949,679 |
TOTAL EQUITY | 32,029,198 |
TOTAL LIABILITIES, SHARES, & EQUITY | 244,275,482 |
INCOME & EXPENSE | |
Loan Income | 11,009,662 |
Investment Income | 1,520,861 |
Other Income | 666,996 |
Total Employee Compensation & Benefits | 4,000,452 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,086,569 |
Non-operating Income & (Expense) | 177,741 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,375,593 |
Cost of Funds | 3,649,918 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 202,051 |
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