Dec, 31, 2023 — NORTHWOOD FEDERAL CREDIT UNION is a federal credit union headquartered in PHILADELPHIA, PA with 2 branch locations and about $8.06 million in total assets. Opened 81 years ago in 1943, NORTHWOOD FEDERAL CREDIT UNION has about 387 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHWOOD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 6836 Castor Ave PHILADELPHIA, PA 19149-2108 |
| Phone: | (215) 725-8100 |
| Fax: | (215) 725-2592 |
| Website: | https://northwoodfcu.com |
| Branches: | 2 branch locations |
| Members: | 387 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5062 |
|---|---|
| Membership Type: | Multiple common bond - Primarily faith based |
| Corporate Credit Union: | No |
| Year Opened: | 1943 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,058,428 |
| CEO/Manager: | Carolyn A Penn |
| Chairperson: | Marc Altman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 992,041 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,739,616 |
| Unsecured Loans | 63,869 |
| Other Loans | 747,328 |
| TOTAL LOANS | 2,550,813 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -75,360 |
| Land And Building | 75,443 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 74,576 |
| All Other Assets | 0 |
| TOTAL ASSETS | 8,058,428 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 71,973 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 14,831 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,185,622 |
| All Other Shares & Deposits | 2,421,485 |
| TOTAL SHARES & DEPOSITS | 6,607,107 |
| TOTAL LIABILITIES | 6,693,911 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,364,517 |
| TOTAL EQUITY | 1,364,517 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,058,428 |
| INCOME & EXPENSE | |
| Loan Income | 115,100 |
| Investment Income | 130,571 |
| Other Income | 3,895 |
| Total Employee Compensation & Benefits | 109,995 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 79,358 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 82,380 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -26,367 |
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