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WAKEFERN FEDERAL CREDIT UNION

Mar, 31, 2021 — WAKEFERN FEDERAL CREDIT UNION is a federal credit union headquartered in Elizabeth, NJ with 1 branch location and about $12.62 million in total assets. Opened 59 years ago in 1962, WAKEFERN FEDERAL CREDIT UNION has about 1,368 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:1,368
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$12,624,458
CEO/Manager:Susan Jelen
Chairperson:Russell Lefkus

Call Report

  • Participation Loans
  • Real Estate Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,680,468
TOTAL INVESTMENTS 9,181,648
Loans Held for Sale 0
 
 Real Estate Loans 73,896
 Unsecured Loans 683,781
 Other Loans 909,066
 TOTAL LOANS 1,666,743
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -14,609
 Land And Building 0
 Other Fixed Assets 8,260
 NCUSIF Deposit 78,132
 All Other Assets 23,816
  TOTAL ASSETS 12,624,458
LIABILITIES & CAPITAL:  
 Dividends Payable 995
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 13,147
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 161,482
 Regular shares 10,161,925
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 10,323,407
  TOTAL LIABILITIES 10,337,549
 Regular Reserve 258,307
 Other Reserves 0
 Undivided Earnings 2,028,602
  TOTAL EQUITY 2,286,909
  TOTAL LIABILITIES, SHARES, & EQUITY 12,624,458
INCOME & EXPENSE  
 Loan Income 34,266
 Investment Income 37,030
 Other Income 10,640
 Total Employee Compensation & Benefits 30,260
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 53,850
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -1,329
 Cost of Funds 994
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 761
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