Dec, 31, 2023 — NET FEDERAL CREDIT UNION is a federal credit union headquartered in SCRANTON, PA with 3 branch locations and about $274.52 million in total assets. Opened 83 years ago in 1941, NET FEDERAL CREDIT UNION has about 18,170 members and employs 60 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NET FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 119 Mulberry St SCRANTON, PA 18503 |
| Phone: | (570) 961-5300 |
| Fax: | |
| Website: | https://netcreditunion.com |
| Branches: | 3 branch locations |
| Members: | 18,170 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4792 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $274,517,472 |
| CEO/Manager: | Clarence Baltrusaitis |
| Chairperson: | Don Bailey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,959,835 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 70,102,890 |
| Unsecured Loans | 16,927,317 |
| Other Loans | 53,151,025 |
| TOTAL LOANS | 140,181,231 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,706,860 |
| Land And Building | 10,822,008 |
| Other Fixed Assets | 2,066,495 |
| NCUSIF Deposit | 2,270,649 |
| All Other Assets | 49,879 |
| TOTAL ASSETS | 274,517,472 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,826,302 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 53,792,361 |
| Regular shares | 105,930,713 |
| All Other Shares & Deposits | 92,017,107 |
| TOTAL SHARES & DEPOSITS | 251,740,181 |
| TOTAL LIABILITIES | 253,566,483 |
| Regular Reserve | 0 |
| Other Reserves | -12,733,165 |
| Undivided Earnings | 33,684,154 |
| TOTAL EQUITY | 20,950,989 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 274,517,472 |
| INCOME & EXPENSE | |
| Loan Income | 7,994,089 |
| Investment Income | 2,111,807 |
| Other Income | 1,905,517 |
| Total Employee Compensation & Benefits | 4,650,066 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,602,608 |
| Non-operating Income & (Expense) | -7,746 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 510,614 |
| Cost of Funds | 2,511,542 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 519,561 |
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