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KEARNY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — KEARNY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in kearny, NJ with 2 branch locations and about $9.98 million in total assets. Opened 66 years ago in 1955, KEARNY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 774 members and employs 3 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)
po box 36
kearny, NJ 07032
Phone:(201) 997-8434
Fax:(201) 997-9703
Website:n/a
Branches:2 branch locations
Members:774
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$9,981,190
CEO/Manager:william j pettigrew
Chairperson:armand calabrese

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 622,361
TOTAL INVESTMENTS 8,062,211
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 571,399
 Other Loans 696,237
 TOTAL LOANS 1,267,636
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -58,972
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 74,035
 All Other Assets 13,919
  TOTAL ASSETS 9,981,190
LIABILITIES & CAPITAL:  
 Dividends Payable 15,623
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 30,642
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 7,901,521
 All Other Shares & Deposits 465,874
  TOTAL SHARES & DEPOSITS 8,367,395
  TOTAL LIABILITIES 8,413,660
 Regular Reserve 82,563
 Other Reserves 0
 Undivided Earnings 1,484,967
  TOTAL EQUITY 1,567,530
  TOTAL LIABILITIES, SHARES, & EQUITY 9,981,190
INCOME & EXPENSE  
 Loan Income 113,751
 Investment Income 105,852
 Other Income 478
 Total Employee Compensation & Benefits 64,836
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 42,509
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,000
 Cost of Funds 64,603
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 38,133
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