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PROPONENT FEDERAL CREDIT UNION

Mar, 31, 2021 — PROPONENT FEDERAL CREDIT UNION is a federal credit union headquartered in Nutley, NJ with 2 branch locations and about $533.65 million in total assets. Opened 50 years ago in 1971, PROPONENT FEDERAL CREDIT UNION has about 23,837 members and employs 77 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: 221277599
Name:PROPONENT FEDERAL CREDIT UNION
Address:
(Main Office)
536 Washington Ave
Nutley, NJ 07110
Phone:(973) 338-1133
Fax:
Website:http://www.profcu.org
Branches:2 branch locations
Members:23,837
Credit Union Type:Federal Credit Union
Charter Number:20448
Membership Type:Multiple common bond - Primarily chemical
Corporate Credit Union:No
Year Opened:1971
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$533,647,218
CEO/Manager:Debra A VanDorn
Chairperson:Sharon Delaney-Guttmann

Call Report

  • Commercial 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
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 51,928,907
TOTAL INVESTMENTS 94,321,331
Loans Held for Sale 0
 
 Real Estate Loans 300,955,243
 Unsecured Loans 34,335,626
 Other Loans 45,049,077
 TOTAL LOANS 380,339,946
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -8,519,378
 Land And Building 5,421,414
 Other Fixed Assets 411,843
 NCUSIF Deposit 4,129,579
 All Other Assets 5,613,576
  TOTAL ASSETS 533,647,218
LIABILITIES & CAPITAL:  
 Dividends Payable 11,642
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,778,647
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 95,282,907
 Regular shares 145,780,611
 All Other Shares & Deposits 227,822,817
  TOTAL SHARES & DEPOSITS 468,886,335
  TOTAL LIABILITIES 471,676,624
 Regular Reserve 9,915,713
 Other Reserves 1,254,624
 Undivided Earnings 50,800,257
  TOTAL EQUITY 61,970,594
  TOTAL LIABILITIES, SHARES, & EQUITY 533,647,218
INCOME & EXPENSE  
 Loan Income 4,128,675
 Investment Income 117,105
 Other Income 1,135,173
 Total Employee Compensation & Benefits 2,379,102
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,785,295
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 531,912
 Cost of Funds 351,866
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 341,740
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