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N. J. LATVIAN FEDERAL CREDIT UNION

Jun, 30, 2021 — N. J. LATVIAN FEDERAL CREDIT UNION is a federal credit union headquartered in Freehold, NJ with 1 branch location and about $8.94 million in total assets. Opened 50 years ago in 1971, N. J. LATVIAN FEDERAL CREDIT UNION has about 176 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:N. J. LATVIAN FEDERAL CREDIT UNION
Address:
(Main Office)
1017 State Route 33
Freehold, NJ 07728-8440
Phone:(732) 336-0033
Fax:
Website:http://njlatviancreditunion.com
Branches:1 branch locations
Members:176
Credit Union Type:Federal Credit Union
Charter Number:20463
Membership Type:Associational - Fraternal, other than those designated 'low-income'
Corporate Credit Union:No
Year Opened:1971
Last Audited:Jan 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$8,940,072
CEO/Manager:Daiga Bruveris
Chairperson:Maris Sermolins

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,966,561
TOTAL INVESTMENTS 6,535,149
Loans Held for Sale 0
 
 Real Estate Loans 245,331
 Unsecured Loans 59,561
 Other Loans 55,229
 TOTAL LOANS 360,121
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,062
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 73,090
 All Other Assets 21,213
  TOTAL ASSETS 8,940,072
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 0
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,492,796
 All Other Shares & Deposits 6,475,934
  TOTAL SHARES & DEPOSITS 7,968,730
  TOTAL LIABILITIES 7,968,730
 Regular Reserve 210,000
 Other Reserves 0
 Undivided Earnings 761,342
  TOTAL EQUITY 971,342
  TOTAL LIABILITIES, SHARES, & EQUITY 8,940,072
INCOME & EXPENSE  
 Loan Income 7,140
 Investment Income 87,703
 Other Income 0
 Total Employee Compensation & Benefits 15,045
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 24,666
 Non-operating Income & (Expense) 400
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,216
 Cost of Funds 42,062
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 12,254
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