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ESSEX COUNTY NJ EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — ESSEX COUNTY NJ EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Newark, NJ with 1 branch location and about $7.66 million in total assets. Opened 86 years ago in 1935, ESSEX COUNTY NJ EMPLOYEES FEDERAL CREDIT UNION has about 1,832 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:ESSEX COUNTY NJ EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
465 Dr Martin Luther King Jr Blvd,
Newark, NJ 07102-1705
Phone:(973) 643-4738
Fax:(973) 643-8721
Website:http://www.essexcu.org
Branches:1 branch locations
Members:1,832
Credit Union Type:Federal Credit Union
Charter Number:112
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1935
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$7,661,182
CEO/Manager:Robert Steeves
Chairperson:Anthony Knight

Call Report

  • Pay Day Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,039,657
TOTAL INVESTMENTS 857,361
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 860,791
 Other Loans 1,287,845
 TOTAL LOANS 2,148,636
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,056
 Land And Building 0
 Other Fixed Assets 5,906
 NCUSIF Deposit 57,352
 All Other Assets 1,568,326
  TOTAL ASSETS 7,661,182
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 49,806
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 6,968,275
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 6,968,275
  TOTAL LIABILITIES 7,018,081
 Regular Reserve 166,823
 Other Reserves 0
 Undivided Earnings 476,278
  TOTAL EQUITY 643,101
  TOTAL LIABILITIES, SHARES, & EQUITY 7,661,182
INCOME & EXPENSE  
 Loan Income 243,398
 Investment Income 34,946
 Other Income 18,088
 Total Employee Compensation & Benefits 262,270
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 123,922
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 17,000
 Cost of Funds 289
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -107,049
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