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National Credit Union Service Organization

WAKEFERN FEDERAL CREDIT UNION

Dec, 31, 2023 — WAKEFERN FEDERAL CREDIT UNION is a federal credit union headquartered in ELIZABETH, NJ with 1 branch location and about $11.76 million in total assets. Opened 62 years ago in 1962, WAKEFERN FEDERAL CREDIT UNION has about 1,303 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 221275643
Name:WAKEFERN FEDERAL CREDIT UNION
Address:
(Main Office)
505 Division St
ELIZABETH, NJ 07201
Phone:(908) 527-3749
Fax:
Website:https://wakefernfcu.org/
Branches:1 branch locations
Members:1,303
Credit Union Type:Federal Credit Union
Charter Number:15016
Membership Type:Service - Finance, Insurance, Real Estate, Trade
Corporate Credit Union:No
Year Opened:1962
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$11,757,490
CEO/Manager:Susan Jelen
Chairperson:Russell Lefkus

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,432,913
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 50,397
 Unsecured Loans 679,672
 Other Loans 2,490,447
 TOTAL LOANS 3,220,517
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -42,612
 Land And Building 893
 Other Fixed Assets 0
 NCUSIF Deposit 92,444
 All Other Assets 0
  TOTAL ASSETS 11,757,490
LIABILITIES & CAPITAL:  
 Dividends Payable 912
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,020
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 122,016
 Regular shares 9,161,985
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 9,284,001
  TOTAL LIABILITIES 9,299,933
 Regular Reserve 0
 Other Reserves 258,307
 Undivided Earnings 2,199,250
  TOTAL EQUITY 2,457,557
  TOTAL LIABILITIES, SHARES, & EQUITY 11,757,490
INCOME & EXPENSE  
 Loan Income 195,508
 Investment Income 195,690
 Other Income 35,389
 Total Employee Compensation & Benefits 128,430
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 173,367
 Non-operating Income & (Expense) 11,334
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 28,272
 Cost of Funds 3,820
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 104,032
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