Jun, 30, 2024 — ADVANCED FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in NEW PROVIDENCE, NJ with 4 branch locations and about $108.86 million in total assets. Opened 59 years ago in 1965, ADVANCED FINANCIAL FEDERAL CREDIT UNION has about 7,476 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| 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: | https://www.advfinfcu.com |
| Branches: | 4 branch locations |
| Members: | 7,476 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $108,856,092 |
| CEO/Manager: | Sandra S Mullins |
| Chairperson: | Arthur Marquardt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,422,459 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 40,842,061 |
| Unsecured Loans | 3,446,120 |
| Other Loans | 4,048,892 |
| TOTAL LOANS | 48,337,073 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,088,837 |
| Land And Building | 569,567 |
| Other Fixed Assets | 477,132 |
| NCUSIF Deposit | 920,480 |
| All Other Assets | 0 |
| TOTAL ASSETS | 108,856,092 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 613,534 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,351,629 |
| Regular shares | 60,500,523 |
| All Other Shares & Deposits | 18,362,214 |
| TOTAL SHARES & DEPOSITS | 96,214,366 |
| TOTAL LIABILITIES | 96,827,900 |
| Regular Reserve | 0 |
| Other Reserves | 2,063,573 |
| Undivided Earnings | 9,964,619 |
| TOTAL EQUITY | 12,028,192 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 108,856,092 |
| INCOME & EXPENSE | |
| Loan Income | 1,803,824 |
| Investment Income | 620,345 |
| Other Income | 449,553 |
| Total Employee Compensation & Benefits | 1,327,655 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,197,031 |
| Non-operating Income & (Expense) | 366,612 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,000 |
| Cost of Funds | 141,187 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 635,136 |
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