Dec, 31, 2020 — RIEGEL FEDERAL CREDIT UNION is a federal credit union headquartered in Milford, NJ with 4 branch locations and about $145.08 million in total assets. Opened 61 years ago in 1960, RIEGEL FEDERAL CREDIT UNION has about 8,207 members and employs 35 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RIEGEL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 515 Milford Warren Glen Rd Milford, NJ 08848-1881 |
| Phone: | (908) 995-2326 |
| Fax: | (908) 995-2508 |
| Website: | http://www.riegelfcu.org |
| Branches: | 4 branch locations |
| Members: | 8,207 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13944 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $145,076,780 |
| CEO/Manager: | James Zielinski |
| Chairperson: | Raymond Bellini |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,201,155 |
| TOTAL INVESTMENTS | 74,183,026 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,373,298 |
| Unsecured Loans | 23,312,358 |
| Other Loans | 14,648,863 |
| TOTAL LOANS | 56,224,523 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -349,201 |
| Land And Building | 484,735 |
| Other Fixed Assets | 151,713 |
| NCUSIF Deposit | 1,188,587 |
| All Other Assets | 992,242 |
| TOTAL ASSETS | 145,076,780 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 380,826 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 22,643,704 |
| Regular shares | 92,234,990 |
| All Other Shares & Deposits | 14,570,019 |
| TOTAL SHARES & DEPOSITS | 129,448,713 |
| TOTAL LIABILITIES | 129,829,539 |
| Regular Reserve | 4,000,000 |
| Other Reserves | 0 |
| Undivided Earnings | 11,247,241 |
| TOTAL EQUITY | 15,247,241 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 145,076,780 |
| INCOME & EXPENSE | |
| Loan Income | 2,534,892 |
| Investment Income | 1,522,742 |
| Other Income | 471,871 |
| Total Employee Compensation & Benefits | 2,076,956 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,726,308 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 107,500 |
| Cost of Funds | 102,101 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 516,640 |
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