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.
Name: | WAKEFERN FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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