Jun, 30, 2021 — WAKEFERN FEDERAL CREDIT UNION is a federal credit union headquartered in Elizabeth, NJ with 1 branch location and about $12.67 million in total assets. Opened 59 years ago in 1962, WAKEFERN FEDERAL CREDIT UNION has about 1,358 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: | 1,358 |
| 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: | $12,665,019 |
| CEO/Manager: | Susan Jelen |
| Chairperson: | Russell Lefkus |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,332,461 |
| TOTAL INVESTMENTS | 9,456,266 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 72,815 |
| Unsecured Loans | 711,056 |
| Other Loans | 971,062 |
| TOTAL LOANS | 1,754,933 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,000 |
| Land And Building | 0 |
| Other Fixed Assets | 18,341 |
| NCUSIF Deposit | 96,868 |
| All Other Assets | 21,150 |
| TOTAL ASSETS | 12,665,019 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,012 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,260 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 195,506 |
| Regular shares | 10,143,379 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 10,338,885 |
| TOTAL LIABILITIES | 10,355,157 |
| Regular Reserve | 258,307 |
| Other Reserves | 0 |
| Undivided Earnings | 2,051,555 |
| TOTAL EQUITY | 2,309,862 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,665,019 |
| INCOME & EXPENSE | |
| Loan Income | 69,074 |
| Investment Income | 67,588 |
| Other Income | 22,337 |
| Total Employee Compensation & Benefits | 60,050 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 80,321 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -1,399 |
| Cost of Funds | 2,005 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 23,735 |
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