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N. J. LATVIAN FEDERAL CREDIT UNION

Dec, 31, 2021 — N. J. LATVIAN FEDERAL CREDIT UNION is a federal credit union headquartered in FREEHOLD, NJ with 1 branch location and about $8.72 million in total assets. Opened 51 years ago in 1971, N. J. LATVIAN FEDERAL CREDIT UNION has about 173 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:173
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:$8,722,625
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 471,991
TOTAL INVESTMENTS 7,823,009
Loans Held for Sale 0
 
 Real Estate Loans 237,145
 Unsecured Loans 51,745
 Other Loans 63,536
 TOTAL LOANS 352,426
 (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 73,386
 All Other Assets 17,875
  TOTAL ASSETS 8,722,625
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 1,477,317
 All Other Shares & Deposits 6,343,792
  TOTAL SHARES & DEPOSITS 7,821,109
  TOTAL LIABILITIES 7,821,109
 Regular Reserve 210,000
 Other Reserves -247,627
 Undivided Earnings 939,143
  TOTAL EQUITY 901,516
  TOTAL LIABILITIES, SHARES, & EQUITY 8,722,625
INCOME & EXPENSE  
 Loan Income 14,522
 Investment Income 168,671
 Other Income 0
 Total Employee Compensation & Benefits 30,023
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 54,243
 Non-operating Income & (Expense) 800
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,216
 Cost of Funds 68,834
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 29,677
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