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GREATER ALLIANCE FEDERAL CREDIT UNION

Mar, 31, 2021 — GREATER ALLIANCE FEDERAL CREDIT UNION is a federal credit union headquartered in Paramus, NJ with 3 branch locations and about $237.76 million in total assets. Opened 84 years ago in 1937, GREATER ALLIANCE FEDERAL CREDIT UNION has about 22,325 members and employs 62 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:GREATER ALLIANCE FEDERAL CREDIT UNION
Address:
(Main Office)
40 West Century Road
Paramus, NJ 07652
Phone:(888) 554-2328
Fax:(201) 986-7538
Website:http://www.greateralliance.org
Branches:3 branch locations
Members:22,325
Credit Union Type:Federal Credit Union
Charter Number:2182
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1937
Last Audited:Sep 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$237,762,104
CEO/Manager:Glenn Guinto
Chairperson:Richard Vega

Call Report

  • Commercial Loans
  • Debt Cancellation/Suspension
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 62,006,294
TOTAL INVESTMENTS 11,954,992
Loans Held for Sale 0
 
 Real Estate Loans 102,870,263
 Unsecured Loans 24,821,762
 Other Loans 12,519,807
 TOTAL LOANS 140,211,832
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,366,548
 Land And Building 3,885,876
 Other Fixed Assets 1,689,949
 NCUSIF Deposit 1,953,534
 All Other Assets 18,426,175
  TOTAL ASSETS 237,762,104
LIABILITIES & CAPITAL:  
 Dividends Payable 428
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,400,096
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 31,330,647
 Regular shares 133,466,442
 All Other Shares & Deposits 52,543,346
  TOTAL SHARES & DEPOSITS 217,340,435
  TOTAL LIABILITIES 221,740,959
 Regular Reserve 2,566,679
 Other Reserves -1,778,681
 Undivided Earnings 15,233,147
  TOTAL EQUITY 16,021,145
  TOTAL LIABILITIES, SHARES, & EQUITY 237,762,104
INCOME & EXPENSE  
 Loan Income 1,710,167
 Investment Income 51,102
 Other Income 630,269
 Total Employee Compensation & Benefits 1,246,733
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,138,607
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 240,000
 Cost of Funds 174,155
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 145,581
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