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National Credit Union Service Organization

NORTHEAST COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2023 — NORTHEAST COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in SAN FRANCISCO, CA with 2 branch locations and about $14.61 million in total assets. Opened 43 years ago in 1981, NORTHEAST COMMUNITY FEDERAL CREDIT UNION has about 1,025 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTHEAST COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
127 WAVERLY PL
SAN FRANCISCO, CA 94108-1610
Phone:(415) 434-0738
Fax:(415) 434-0715
Website:https://www.necfcu.org
Branches:2 branch locations
Members:1,025
Credit Union Type:Federal Credit Union
Charter Number:23780
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1981
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$14,607,794
CEO/Manager:Lily Lo
Chairperson:MICHAEL CHAN

Call Report

  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 749,281
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,626,957
 Unsecured Loans 10,525
 Other Loans 147,384
 TOTAL LOANS 2,784,866
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -67,130
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 78,957
 All Other Assets 0
  TOTAL ASSETS 14,607,794
LIABILITIES & CAPITAL:  
 Dividends Payable 635
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 193,914
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 1,650,000
 Share Drafts 567,841
 Regular shares 6,406,514
 All Other Shares & Deposits 2,699,293
  TOTAL SHARES & DEPOSITS 9,673,648
  TOTAL LIABILITIES 11,518,197
 Regular Reserve 0
 Other Reserves 1,122,429
 Undivided Earnings 1,967,168
  TOTAL EQUITY 3,089,597
  TOTAL LIABILITIES, SHARES, & EQUITY 14,607,794
INCOME & EXPENSE  
 Loan Income 109,453
 Investment Income 396,879
 Other Income 8,412
 Total Employee Compensation & Benefits 307,159
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 94,725
 Non-operating Income & (Expense) 311,013
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 63,179
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 360,694
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