Dec, 31, 2023 — JERSEY SHORE FEDERAL CREDIT UNION is a federal credit union headquartered in NORTHFIELD, NJ with 5 branch locations and about $234.43 million in total assets. Opened 61 years ago in 1963, JERSEY SHORE FEDERAL CREDIT UNION has about 15,865 members and employs 60 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | JERSEY SHORE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1434 New Rd NORTHFIELD, NJ 08225 |
| Phone: | (609) 646-3339 |
| Fax: | (609) 646-8074 |
| Website: | https://www.jerseyshorefcu.org |
| Branches: | 5 branch locations |
| Members: | 15,865 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15483 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $234,425,491 |
| CEO/Manager: | James Burns |
| Chairperson: | Jack Hickey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,099,002 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 67,225,383 |
| Unsecured Loans | 6,100,498 |
| Other Loans | 44,981,814 |
| TOTAL LOANS | 118,307,694 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -369,802 |
| Land And Building | 3,898,373 |
| Other Fixed Assets | 509,772 |
| NCUSIF Deposit | 2,149,228 |
| All Other Assets | 0 |
| TOTAL ASSETS | 234,425,491 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 815,083 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 44,553,204 |
| Regular shares | 116,188,134 |
| All Other Shares & Deposits | 63,946,109 |
| TOTAL SHARES & DEPOSITS | 224,687,446 |
| TOTAL LIABILITIES | 225,502,529 |
| Regular Reserve | 0 |
| Other Reserves | -6,239,348 |
| Undivided Earnings | 15,162,310 |
| TOTAL EQUITY | 8,922,962 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 234,425,491 |
| INCOME & EXPENSE | |
| Loan Income | 5,878,802 |
| Investment Income | 2,093,775 |
| Other Income | 1,404,143 |
| Total Employee Compensation & Benefits | 3,565,898 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,131,467 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 119,570 |
| Cost of Funds | 1,256,225 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,322,321 |
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