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National Credit Union Service Organization

WAKEFERN FEDERAL CREDIT UNION

Sep, 30, 2022 — WAKEFERN FEDERAL CREDIT UNION is a federal credit union headquartered in ELIZABETH, NJ with 1 branch location and about $12.71 million in total assets. Opened 61 years ago in 1962, WAKEFERN FEDERAL CREDIT UNION has about 1,332 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:1,332
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, 2022
FHLB Member:No
Low Income Designation:No
Assets:$12,714,949
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 968,003
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 64,003
 Unsecured Loans 685,497
 Other Loans 1,786,061
 TOTAL LOANS 2,535,561
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -33,397
 Land And Building 0
 Other Fixed Assets 10,870
 NCUSIF Deposit 96,511
 All Other Assets 0
  TOTAL ASSETS 12,714,949
LIABILITIES & CAPITAL:  
 Dividends Payable 1,028
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 12,089
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 183,911
 Regular shares 10,183,253
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 10,367,164
  TOTAL LIABILITIES 10,380,281
 Regular Reserve 0
 Other Reserves 258,307
 Undivided Earnings 2,076,361
  TOTAL EQUITY 2,334,668
  TOTAL LIABILITIES, SHARES, & EQUITY 12,714,949
INCOME & EXPENSE  
 Loan Income 120,021
 Investment Income 92,938
 Other Income 36,442
 Total Employee Compensation & Benefits 93,609
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 127,646
 Non-operating Income & (Expense) 11,081
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 32,368
 Cost of Funds 3,051
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,808
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