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WAKEFERN FEDERAL CREDIT UNION

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.


ABA Routing Number: 221275643
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

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
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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