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I.L.A. LOCAL 1235 FEDERAL CREDIT UNION

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

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
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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