Jun, 30, 2021 — I.L.A. LOCAL 1235 FEDERAL CREDIT UNION is a federal credit union headquartered in Newark, NJ with 1 branch location and about $8.49 million in total assets. Opened 40 years ago in 1981, I.L.A. LOCAL 1235 FEDERAL CREDIT UNION has about 635 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) | One Gateway Center, Suite 2600 Newark, NJ 07102 |
| Phone: | (973) 344-8660 |
| Fax: | (973) 732-1698 |
| Website: | http://www.ila1235fcu.com |
| Branches: | 1 branch locations |
| Members: | 635 |
| 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, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,487,201 |
| CEO/Manager: | Linda Cernadas |
| Chairperson: | Ricardo Fuentes |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 747,868 |
| TOTAL INVESTMENTS | 4,078,000 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,875,485 |
| Other Loans | 1,715,316 |
| TOTAL LOANS | 3,590,801 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,096 |
| Land And Building | 0 |
| Other Fixed Assets | 19,971 |
| NCUSIF Deposit | 61,017 |
| All Other Assets | 10,640 |
| TOTAL ASSETS | 8,487,201 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 23,244 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 179,845 |
| Regular shares | 7,139,691 |
| All Other Shares & Deposits | 90,638 |
| TOTAL SHARES & DEPOSITS | 7,410,174 |
| TOTAL LIABILITIES | 7,433,418 |
| Regular Reserve | 232,791 |
| Other Reserves | 0 |
| Undivided Earnings | 820,992 |
| TOTAL EQUITY | 1,053,783 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,487,201 |
| INCOME & EXPENSE | |
| Loan Income | 146,354 |
| Investment Income | 32,383 |
| Other Income | 6,951 |
| Total Employee Compensation & Benefits | 130,653 |
| NCUSIF Premiums Expense | 11,586 |
| Total Other Operating Expenses | 47,026 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 2,189 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -2,209 |
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