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I.L.A. LOCAL 1235 FEDERAL CREDIT UNION

Mar, 31, 2022 — I.L.A. LOCAL 1235 FEDERAL CREDIT UNION is a federal credit union headquartered in SPRINGFIELD, NJ with 1 branch location and about $8.88 million in total assets. Opened 41 years ago in 1981, I.L.A. LOCAL 1235 FEDERAL CREDIT UNION has about 631 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:I.L.A. LOCAL 1235 FEDERAL CREDIT UNION
Address:
(Main Office)
327 Milltown RD
SPRINGFIELD, NJ 07081
Phone:(973) 344-8660
Fax:(973) 732-1698
Website:http://www.ila1235fcu.com
Branches:1 branch locations
Members:631
Credit Union Type:Federal Credit Union
Charter Number:23807
Membership Type:Associational - Fraternal, other than those designated 'low-income'
Corporate Credit Union:No
Year Opened:1981
Last Audited:Jun 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$8,877,927
CEO/Manager:Linda Cernadas
Chairperson:Ricardo Fuentes

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 795,489
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,665,886
 Other Loans 1,889,085
 TOTAL LOANS 3,554,971
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -19,883
 Land And Building 0
 Other Fixed Assets 12,630
 NCUSIF Deposit 72,604
 All Other Assets 0
  TOTAL ASSETS 8,877,927
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 7,376
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 226,785
 Regular shares 7,497,534
 All Other Shares & Deposits 91,741
  TOTAL SHARES & DEPOSITS 7,816,060
  TOTAL LIABILITIES 7,823,436
 Regular Reserve 0
 Other Reserves 232,791
 Undivided Earnings 821,700
  TOTAL EQUITY 1,054,491
  TOTAL LIABILITIES, SHARES, & EQUITY 8,877,927
INCOME & EXPENSE  
 Loan Income 77,034
 Investment Income 16,878
 Other Income 2,326
 Total Employee Compensation & Benefits 67,448
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 17,616
 Non-operating Income & (Expense) -5,737
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,465
 Cost of Funds 1,060
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 41
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