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National Credit Union Service Organization

WAKEFERN FEDERAL CREDIT UNION

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.


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:1,337
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

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
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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