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 |
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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 |
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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 |
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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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