Sep, 30, 2025 — XCEL FEDERAL CREDIT UNION is a federal credit union headquartered in BLOOMFIELD, NJ with 3 branch locations and about $184.82 million in total assets. Opened 62 years ago in 1964, XCEL FEDERAL CREDIT UNION has about 12,073 members and employs 37 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | XCEL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1460 Broad St BLOOMFIELD, NJ 07003 |
| Phone: | (973) 275-9235 |
| Fax: | (973) 528-8772 |
| Website: | https://www.xcelfcu.org |
| Branches: | 3 branch locations |
| Members: | 12,073 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16218 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $184,823,347 |
| CEO/Manager: | Michael Mahiya |
| Chairperson: | Phyllis H Ford |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,482,869 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 77,237,501 |
| Unsecured Loans | 25,710,147 |
| Other Loans | 19,844,073 |
| TOTAL LOANS | 122,791,721 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -995,432 |
| Land And Building | 4,773,074 |
| Other Fixed Assets | 395,800 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,557,896 |
| All Other Assets | 0 |
| TOTAL ASSETS | 184,823,347 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 808,209 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 37,775,605 |
| Regular shares | 65,981,890 |
| All Other Shares & Deposits | 63,964,566 |
| TOTAL SHARES & DEPOSITS | 167,722,064 |
| TOTAL LIABILITIES | 168,530,273 |
| Regular Reserve | 0 |
| Other Reserves | 1,132,567 |
| Undivided Earnings | 15,160,507 |
| TOTAL EQUITY | 16,293,074 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 184,823,347 |
| INCOME & EXPENSE | |
| Loan Income | 6,275,845 |
| Investment Income | 913,685 |
| Other Income | 882,385 |
| Total Employee Compensation & Benefits | 3,216,804 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 3,143,073 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 390,431 |
| Cost of Funds | 1,692,825 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -160,698 |
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