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ISRAEL MEMORIAL A M E FEDERAL CREDIT UNION

Dec, 31, 2021 — ISRAEL MEMORIAL A M E FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, NJ with 0 branch location and about $379,067 in total assets. Opened 66 years ago in 1956, ISRAEL MEMORIAL A M E FEDERAL CREDIT UNION has about 178 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ISRAEL MEMORIAL A M E FEDERAL CREDIT UNION
Address:
(Main Office)
54 Lincoln St
NEWARK, NJ 07103
Phone:(973) 643-1333
Fax:(973) 643-9559
Website:n/a
Branches:0 branch locations
Members:178
Credit Union Type:Federal Credit Union
Charter Number:10803
Membership Type:Associational - Religious, other than those designated 'low-income'
Corporate Credit Union:No
Year Opened:1956
Last Audited:Jun 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$379,067
CEO/Manager:Vernon C Webb
Chairperson:Laverne M Merritt

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 126,053
TOTAL INVESTMENTS 200,109
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 14,733
 Other Loans 46,271
 TOTAL LOANS 61,004
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -12,500
 Land And Building 0
 Other Fixed Assets 717
 NCUSIF Deposit 2,199
 All Other Assets 1,485
  TOTAL ASSETS 379,067
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 86
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 239,440
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 239,440
  TOTAL LIABILITIES 239,526
 Regular Reserve 62,587
 Other Reserves 0
 Undivided Earnings 76,954
  TOTAL EQUITY 139,541
  TOTAL LIABILITIES, SHARES, & EQUITY 379,067
INCOME & EXPENSE  
 Loan Income 4,375
 Investment Income 109
 Other Income 896
 Total Employee Compensation & Benefits 0
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 9,808
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 319
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -4,147
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