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ROCKLAND EMPLOYEES FEDERAL CREDIT UNION

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
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
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

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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