Dec, 31, 2020 — FIRST POINT FEDERAL CREDIT UNION is a federal credit union headquartered in HAMILTON, NJ with 2 branch locations and about $31.12 million in total assets. Opened 66 years ago in 1955, FIRST POINT FEDERAL CREDIT UNION has about 1,848 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: | FIRST POINT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2430 HAMILTON AVE, SUITE 2 HAMILTON, NJ 08619 |
| Phone: | (609) 838-2847 |
| Fax: | (609) 838-2850 |
| Website: | http://firstpointfcu.com |
| Branches: | 2 branch locations |
| Members: | 1,848 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10319 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Sep 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $31,123,414 |
| CEO/Manager: | JUDY GERNHART |
| Chairperson: | ROBERT DELANEY |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,390,856 |
| TOTAL INVESTMENTS | 21,928,277 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,126,704 |
| Unsecured Loans | 1,178,496 |
| Other Loans | 1,129,440 |
| TOTAL LOANS | 7,434,640 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -134,359 |
| Land And Building | 195,046 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 244,318 |
| All Other Assets | 64,636 |
| TOTAL ASSETS | 31,123,414 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 174,215 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,605,421 |
| Regular shares | 16,493,413 |
| All Other Shares & Deposits | 7,776,002 |
| TOTAL SHARES & DEPOSITS | 27,874,836 |
| TOTAL LIABILITIES | 28,049,051 |
| Regular Reserve | 404,132 |
| Other Reserves | 441,094 |
| Undivided Earnings | 2,229,137 |
| TOTAL EQUITY | 3,074,363 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,123,414 |
| INCOME & EXPENSE | |
| Loan Income | 400,939 |
| Investment Income | 366,618 |
| Other Income | 22,406 |
| Total Employee Compensation & Benefits | 271,725 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 326,183 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,000 |
| Cost of Funds | 165,992 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,063 |
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