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ADVANCED FINANCIAL FEDERAL CREDIT UNION

Mar, 31, 2021 — ADVANCED FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in NEW PROVIDENCE, NJ with 6 branch locations and about $113.09 million in total assets. Opened 56 years ago in 1965, ADVANCED FINANCIAL FEDERAL CREDIT UNION has about 8,477 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 221276817
Name:ADVANCED FINANCIAL FEDERAL CREDIT UNION
Address:
(Main Office)
785 CENTRAL AVE
NEW PROVIDENCE, NJ 07974
Phone:(908) 771-0300
Fax:(908) 771-9349
Website:http://www.advfinfcu.com
Branches:6 branch locations
Members:8,477
Credit Union Type:Federal Credit Union
Charter Number:16785
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1965
Last Audited:Jun 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$113,094,811
CEO/Manager:Alan Feigenbaum
Chairperson:Arthur Marquardt

Call Report

  • Commercial Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 32,540,449
TOTAL INVESTMENTS 22,459,797
Loans Held for Sale 0
 
 Real Estate Loans 45,688,718
 Unsecured Loans 3,962,157
 Other Loans 4,543,410
 TOTAL LOANS 54,194,285
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,057,327
 Land And Building 583,867
 Other Fixed Assets 512,672
 NCUSIF Deposit 865,144
 All Other Assets 2,995,924
  TOTAL ASSETS 113,094,811
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 733,239
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 18,425,199
 Regular shares 58,581,887
 All Other Shares & Deposits 22,482,478
  TOTAL SHARES & DEPOSITS 99,489,564
  TOTAL LIABILITIES 100,222,803
 Regular Reserve 2,054,770
 Other Reserves 3,100,779
 Undivided Earnings 7,716,459
  TOTAL EQUITY 12,872,008
  TOTAL LIABILITIES, SHARES, & EQUITY 113,094,811
INCOME & EXPENSE  
 Loan Income 723,159
 Investment Income 100,884
 Other Income 125,688
 Total Employee Compensation & Benefits 420,837
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 396,856
 Non-operating Income & (Expense) -4,101
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 35,500
 Cost of Funds 59,943
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 68,539
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