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ESSEX COUNTY NJ EMPLOYEES FEDERAL CREDIT UNION

Jun, 30, 2021 — ESSEX COUNTY NJ EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Newark, NJ with 1 branch location and about $8.08 million in total assets. Opened 86 years ago in 1935, ESSEX COUNTY NJ EMPLOYEES FEDERAL CREDIT UNION has about 1,818 members 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:1,818
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:$8,077,440
CEO/Manager:Robert Steeves
Chairperson:Anthony Knight

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,869,925
TOTAL INVESTMENTS 853,361
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 787,635
 Other Loans 1,266,994
 TOTAL LOANS 2,054,629
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,421
 Land And Building 0
 Other Fixed Assets 8,813
 NCUSIF Deposit 69,683
 All Other Assets 1,246,450
  TOTAL ASSETS 8,077,440
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 33,679
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 7,849,506
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 7,849,506
  TOTAL LIABILITIES 7,883,185
 Regular Reserve 166,823
 Other Reserves 0
 Undivided Earnings 27,432
  TOTAL EQUITY 194,255
  TOTAL LIABILITIES, SHARES, & EQUITY 8,077,440
INCOME & EXPENSE  
 Loan Income 113,645
 Investment Income 12,832
 Other Income 1,374
 Total Employee Compensation & Benefits 107,636
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 117,019
 Non-operating Income & (Expense) -324,000
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 31,000
 Cost of Funds 0
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -448,845
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