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SEAPORT FEDERAL CREDIT UNION

Mar, 31, 2021 — SEAPORT FEDERAL CREDIT UNION is a federal credit union headquartered in ELIZABETH, NJ with 3 branch locations and about $86.74 million in total assets. Opened 52 years ago in 1969, SEAPORT FEDERAL CREDIT UNION has about 5,088 members and employs 21 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SEAPORT FEDERAL CREDIT UNION
Address:
(Main Office)
5080 MCLESTER ST
ELIZABETH, NJ 07201
Phone:(908) 558-6124
Fax:(908) 558-6482
Website:http://www.seaportfcu.org
Branches:3 branch locations
Members:5,088
Credit Union Type:Federal Credit Union
Charter Number:19185
Membership Type:Multiple common bond - Primarily transportation
Corporate Credit Union:No
Year Opened:1969
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$86,741,044
CEO/Manager:Lisa Ramos
Chairperson:Vincent Marino

Call Report

  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 15,244,414
TOTAL INVESTMENTS 25,254,080
Loans Held for Sale 0
 
 Real Estate Loans 10,626,914
 Unsecured Loans 6,700,059
 Other Loans 22,722,010
 TOTAL LOANS 40,048,983
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -144,338
 Land And Building 0
 Other Fixed Assets 265,404
 NCUSIF Deposit 644,117
 All Other Assets 5,428,384
  TOTAL ASSETS 86,741,044
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 566,005
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,845,477
 Regular shares 52,521,579
 All Other Shares & Deposits 12,896,204
  TOTAL SHARES & DEPOSITS 74,263,260
  TOTAL LIABILITIES 74,829,265
 Regular Reserve 1,491,200
 Other Reserves -51,633
 Undivided Earnings 10,472,212
  TOTAL EQUITY 11,911,779
  TOTAL LIABILITIES, SHARES, & EQUITY 86,741,044
INCOME & EXPENSE  
 Loan Income 488,568
 Investment Income 56,638
 Other Income 68,211
 Total Employee Compensation & Benefits 596,476
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 302,056
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 36,107
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -31,537
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