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National Credit Union Service Organization

NORTHEAST COMMUNITY FEDERAL CREDIT UNION

Jun, 30, 2023 — NORTHEAST COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in SAN FRANCISCO, CA with 2 branch locations and about $16.98 million in total assets. Opened 43 years ago in 1981, NORTHEAST COMMUNITY FEDERAL CREDIT UNION has about 1,122 members and employs 7 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)
683 Clay St
SAN FRANCISCO, CA 94111
Phone:(415) 434-0738
Fax:(415) 434-0715
Website:https://www.necfcu.org
Branches:2 branch locations
Members:1,122
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:Nov 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$16,979,708
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 6,978,227
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,889,769
 Unsecured Loans 17,996
 Other Loans 83,740
 TOTAL LOANS 1,991,505
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -67,646
 Land And Building 0
 Other Fixed Assets 200
 NCUSIF Deposit 81,879
 All Other Assets 0
  TOTAL ASSETS 16,979,708
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,207,613
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 1,650,000
 Share Drafts 270,389
 Regular shares 5,831,047
 All Other Shares & Deposits 3,011,427
  TOTAL SHARES & DEPOSITS 9,112,863
  TOTAL LIABILITIES 13,970,476
 Regular Reserve 0
 Other Reserves 1,122,429
 Undivided Earnings 1,886,803
  TOTAL EQUITY 3,009,232
  TOTAL LIABILITIES, SHARES, & EQUITY 16,979,708
INCOME & EXPENSE  
 Loan Income 90,695
 Investment Income 29,189
 Other Income 7,792
 Total Employee Compensation & Benefits 206,749
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 188,280
 Non-operating Income & (Expense) 607,745
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 25,084
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 315,308
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