Dec, 31, 2023 — PENN EAST FEDERAL CREDIT UNION is a federal credit union headquartered in SCRANTON, PA with 5 branch locations and about $255.96 million in total assets. Opened 86 years ago in 1938, PENN EAST FEDERAL CREDIT UNION has about 23,192 members and employs 63 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PENN EAST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 441 N 7th Ave SCRANTON, PA 18503 |
| Phone: | (570) 342-2720 |
| Fax: | (570) 342-4669 |
| Website: | https://www.penneastfcu.org |
| Branches: | 5 branch locations |
| Members: | 23,192 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2742 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $255,960,450 |
| CEO/Manager: | Marie C Beggin |
| Chairperson: | Lisa Lesneski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,960,257 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 65,759,774 |
| Unsecured Loans | 6,948,748 |
| Other Loans | 64,147,378 |
| TOTAL LOANS | 136,855,900 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -854,081 |
| Land And Building | 7,964,887 |
| Other Fixed Assets | 1,623,665 |
| NCUSIF Deposit | 2,351,789 |
| All Other Assets | 0 |
| TOTAL ASSETS | 255,960,450 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,002,696 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 55,141,769 |
| Regular shares | 120,026,089 |
| All Other Shares & Deposits | 66,472,156 |
| TOTAL SHARES & DEPOSITS | 241,640,014 |
| TOTAL LIABILITIES | 242,642,710 |
| Regular Reserve | 0 |
| Other Reserves | -9,967,559 |
| Undivided Earnings | 23,285,299 |
| TOTAL EQUITY | 13,317,740 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 255,960,450 |
| INCOME & EXPENSE | |
| Loan Income | 6,655,535 |
| Investment Income | 2,112,166 |
| Other Income | 1,344,731 |
| Total Employee Compensation & Benefits | 4,447,832 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,543,237 |
| Non-operating Income & (Expense) | 1,157,699 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 324,389 |
| Cost of Funds | 1,041,032 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,680,175 |
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