Dec, 31, 2023 — UNITED TELETECH FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in TINTON FALLS, NJ with 6 branch locations and about $338.52 million in total assets. Opened 57 years ago in 1967, UNITED TELETECH FINANCIAL FEDERAL CREDIT UNION has about 18,519 members and employs 62 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | UNITED TELETECH FINANCIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 205 Hance Ave TINTON FALLS, NJ 07724 |
| Phone: | (732) 530-8100 |
| Fax: | (732) 530-2027 |
| Website: | https://www.utfinancial.org |
| Branches: | 6 branch locations |
| Members: | 18,519 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18195 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $338,515,125 |
| CEO/Manager: | LEO R ARDINE |
| Chairperson: | MICHAEL HOU |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,206,337 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 156,110,790 |
| Unsecured Loans | 14,147,288 |
| Other Loans | 73,214,522 |
| TOTAL LOANS | 243,472,600 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,307,972 |
| Land And Building | 1,412,634 |
| Other Fixed Assets | 2,735,540 |
| NCUSIF Deposit | 2,607,838 |
| All Other Assets | 110,000 |
| TOTAL ASSETS | 338,515,125 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 221,298 |
| Notes & Interest Payable | 30,500,000 |
| Accounts Payable & Other Liabilities | 2,223,220 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 90,315,783 |
| Regular shares | 95,640,898 |
| All Other Shares & Deposits | 100,823,327 |
| TOTAL SHARES & DEPOSITS | 286,780,008 |
| TOTAL LIABILITIES | 319,724,526 |
| Regular Reserve | 0 |
| Other Reserves | -8,383,983 |
| Undivided Earnings | 27,174,582 |
| TOTAL EQUITY | 18,790,599 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 338,515,125 |
| INCOME & EXPENSE | |
| Loan Income | 11,563,137 |
| Investment Income | 2,046,652 |
| Other Income | 1,988,100 |
| Total Employee Compensation & Benefits | 5,795,359 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,071,341 |
| Non-operating Income & (Expense) | 578,859 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -400,449 |
| Cost of Funds | 2,725,460 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,484,476 |
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