Dec, 31, 2021 — WAKEFERN FEDERAL CREDIT UNION is a federal credit union headquartered in ELIZABETH, NJ with 1 branch location and about $12.81 million in total assets. Opened 60 years ago in 1962, WAKEFERN FEDERAL CREDIT UNION has about 1,337 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WAKEFERN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 505 Division St ELIZABETH, NJ 07201 |
| Phone: | (908) 527-3749 |
| Fax: | |
| Website: | https://wakefernfcu.org/ |
| Branches: | 1 branch locations |
| Members: | 1,337 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15016 |
|---|---|
| Membership Type: | Service - Finance, Insurance, Real Estate, Trade |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Mar 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,812,171 |
| CEO/Manager: | Susan Jelen |
| Chairperson: | Russell Lefkus |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,669,497 |
| TOTAL INVESTMENTS | 9,083,096 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 70,612 |
| Unsecured Loans | 757,140 |
| Other Loans | 1,116,428 |
| TOTAL LOANS | 1,944,180 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,606 |
| Land And Building | 0 |
| Other Fixed Assets | 14,633 |
| NCUSIF Deposit | 96,868 |
| All Other Assets | 19,503 |
| TOTAL ASSETS | 12,812,171 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,019 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 6,817 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 174,711 |
| Regular shares | 10,298,765 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 10,473,476 |
| TOTAL LIABILITIES | 10,481,312 |
| Regular Reserve | 258,307 |
| Other Reserves | 0 |
| Undivided Earnings | 2,072,552 |
| TOTAL EQUITY | 2,330,859 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,812,171 |
| INCOME & EXPENSE | |
| Loan Income | 142,869 |
| Investment Income | 122,653 |
| Other Income | 47,328 |
| Total Employee Compensation & Benefits | 120,722 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 154,179 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,436 |
| Cost of Funds | 4,052 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 44,710 |
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