Dec, 31, 2023 — ROCKLAND EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in SPRING VALLEY, NY with 3 branch locations and about $55.86 million in total assets. Opened 62 years ago in 1962, ROCKLAND EMPLOYEES FEDERAL CREDIT UNION has about 7,655 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ROCKLAND EMPLOYEES FEDERAL CREDIT UNION |
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Address: (Main Office) | 170 Route 59 SPRING VALLEY, NY 10977 |
Phone: | (845) 371-5804 |
Fax: | (845) 371-2652 |
Website: | https://www.refcu.org |
Branches: | 3 branch locations |
Members: | 7,655 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15080 |
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Membership Type: | Multiple common bond - Primarily health care |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $55,862,164 |
CEO/Manager: | Miriam Fernandez |
Chairperson: | Basil Townsend |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,322,910 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 14,711,932 |
Unsecured Loans | 13,793,786 |
Other Loans | 13,984,845 |
TOTAL LOANS | 42,490,563 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -370,374 |
Land And Building | 1,333,875 |
Other Fixed Assets | 138,348 |
NCUSIF Deposit | 513,023 |
All Other Assets | 40,105 |
TOTAL ASSETS | 55,862,164 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 72 |
Notes & Interest Payable | 97,514 |
Accounts Payable & Other Liabilities | 1,118,540 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,433,223 |
Regular shares | 37,883,636 |
All Other Shares & Deposits | 1,335,441 |
TOTAL SHARES & DEPOSITS | 46,652,300 |
TOTAL LIABILITIES | 47,868,426 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 7,993,738 |
TOTAL EQUITY | 7,993,738 |
TOTAL LIABILITIES, SHARES, & EQUITY | 55,862,164 |
INCOME & EXPENSE | |
Loan Income | 3,278,746 |
Investment Income | 392,101 |
Other Income | 640,685 |
Total Employee Compensation & Benefits | 1,890,759 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,771,933 |
Non-operating Income & (Expense) | 721,451 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 443,972 |
Cost of Funds | 107,053 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,280,709 |
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