Sep, 30, 2025 — OCEAN FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in OCEANSIDE, NY with 3 branch locations and about $397.94 million in total assets. Opened 57 years ago in 1969, OCEAN FINANCIAL FEDERAL CREDIT UNION has about 14,120 members and employs 45 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | OCEAN FINANCIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 45 Atlantic Ave OCEANSIDE, NY 11572-2035 |
| Phone: | (516) 620-8100 |
| Fax: | (516) 620-8080 |
| Website: | https://www.oceanfinancial.org |
| Branches: | 3 branch locations |
| Members: | 14,120 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19269 |
|---|---|
| Membership Type: | Multiple common bond - Primarily faith based |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $397,938,662 |
| CEO/Manager: | Joseph A Tedesco |
| Chairperson: | Timothy Johnson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 36,769,672 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 202,807,488 |
| Unsecured Loans | 18,450,514 |
| Other Loans | 55,044,417 |
| TOTAL LOANS | 276,313,371 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,458,737 |
| Land And Building | 2,728,149 |
| Other Fixed Assets | 543,064 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,074,331 |
| All Other Assets | 0 |
| TOTAL ASSETS | 397,938,662 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | 2,307,134 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 44,037,881 |
| Regular shares | 50,642,806 |
| All Other Shares & Deposits | 268,923,625 |
| TOTAL SHARES & DEPOSITS | 363,604,312 |
| TOTAL LIABILITIES | 375,911,446 |
| Regular Reserve | 0 |
| Other Reserves | -10,544,531 |
| Undivided Earnings | 32,571,747 |
| TOTAL EQUITY | 22,027,216 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 397,938,662 |
| INCOME & EXPENSE | |
| Loan Income | 11,058,220 |
| Investment Income | 2,012,438 |
| Other Income | 305,030 |
| Total Employee Compensation & Benefits | 3,487,816 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 3,567,724 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 450,000 |
| Cost of Funds | 6,154,985 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 264,401 |
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