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KEARNY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Jun, 30, 2024 — KEARNY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in KEARNY, NJ with 2 branch locations and about $9.96 million in total assets. Opened 69 years ago in 1955, KEARNY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 764 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:KEARNY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
645 kearny ave
KEARNY, NJ 07032
Phone:(201) 997-8434
Fax:(201) 942-2593
Website:n/a
Branches:2 branch locations
Members:764
Credit Union Type:Federal Credit Union
Charter Number:10614
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1955
Last Audited:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$9,963,255
CEO/Manager:william j pettigrew
Chairperson:martin rowe

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 215,793
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 701,312
 Other Loans 746,580
 TOTAL LOANS 1,447,892
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -73,127
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 82,348
 All Other Assets 0
  TOTAL ASSETS 9,963,255
LIABILITIES & CAPITAL:  
 Dividends Payable 20,950
 Notes & Interest Payable 250,000
 Accounts Payable & Other Liabilities 107
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 7,613,419
 All Other Shares & Deposits 450,908
  TOTAL SHARES & DEPOSITS 8,064,327
  TOTAL LIABILITIES 8,335,384
 Regular Reserve 0
 Other Reserves 82,563
 Undivided Earnings 1,545,308
  TOTAL EQUITY 1,627,871
  TOTAL LIABILITIES, SHARES, & EQUITY 9,963,255
INCOME & EXPENSE  
 Loan Income 78,755
 Investment Income 41,519
 Other Income 0
 Total Employee Compensation & Benefits 53,929
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 27,328
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,382
 Cost of Funds 44,257
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -13,496
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