Dec, 31, 2021 — PUBLIC SERVICE FEDERAL CREDIT UNION is a federal credit union headquartered in MIDDLESEX, NJ with 1 branch location and about $41.97 million in total assets. Opened 65 years ago in 1957, PUBLIC SERVICE FEDERAL CREDIT UNION has about 3,524 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PUBLIC SERVICE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 619 Union Ave MIDDLESEX, NJ 08846 |
| Phone: | (732) 805-9000 |
| Fax: | (732) 805-0539 |
| Website: | www.psfcunj.com |
| Branches: | 1 branch locations |
| Members: | 3,524 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11779 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $41,973,929 |
| CEO/Manager: | Brooke Hennessy |
| Chairperson: | Thomas m Hennessy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,378,944 |
| TOTAL INVESTMENTS | 25,413,785 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,973,744 |
| Unsecured Loans | 3,158,884 |
| Other Loans | 9,423,730 |
| TOTAL LOANS | 14,556,358 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -133,010 |
| Land And Building | 323,313 |
| Other Fixed Assets | 28,539 |
| NCUSIF Deposit | 356,451 |
| All Other Assets | 49,549 |
| TOTAL ASSETS | 41,973,929 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 61,368 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,709,660 |
| Regular shares | 16,107,673 |
| All Other Shares & Deposits | 17,678,644 |
| TOTAL SHARES & DEPOSITS | 36,495,977 |
| TOTAL LIABILITIES | 36,557,345 |
| Regular Reserve | 444,193 |
| Other Reserves | 0 |
| Undivided Earnings | 4,972,391 |
| TOTAL EQUITY | 5,416,584 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 41,973,929 |
| INCOME & EXPENSE | |
| Loan Income | 949,303 |
| Investment Income | 279,056 |
| Other Income | 32,684 |
| Total Employee Compensation & Benefits | 476,373 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 390,685 |
| Non-operating Income & (Expense) | 204,362 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,150 |
| Cost of Funds | 195,933 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 460,004 |
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