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NEW COMMUNITY FEDERAL CREDIT UNION

Mar, 31, 2021 — NEW COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in Newark, NJ with 1 branch location and about $3.44 million in total assets. Opened 37 years ago in 1984, NEW COMMUNITY FEDERAL CREDIT UNION has about 3,659 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NEW COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
274 S Orange Ave
Newark, NJ 07103-2419
Phone:(973) 621-2363
Fax:
Website:http://www.newcommunityfcu.org
Branches:1 branch locations
Members:3,659
Credit Union Type:Federal Credit Union
Charter Number:24167
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1984
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$3,444,897
CEO/Manager:Mulu A Gebreyesus
Chairperson:Richard Cammarieri

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Real Estate Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,277,412
TOTAL INVESTMENTS 804,022
Loans Held for Sale 0
 
 Real Estate Loans 1,267,107
 Unsecured Loans 49,900
 Other Loans 8,706
 TOTAL LOANS 1,325,713
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -313
 Land And Building 0
 Other Fixed Assets 4,316
 NCUSIF Deposit 26,576
 All Other Assets 7,171
  TOTAL ASSETS 3,444,897
LIABILITIES & CAPITAL:  
 Dividends Payable 319
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 22,291
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 80,910
 Regular shares 2,291,770
 All Other Shares & Deposits 669,767
  TOTAL SHARES & DEPOSITS 3,042,447
  TOTAL LIABILITIES 3,065,057
 Regular Reserve 109,436
 Other Reserves 0
 Undivided Earnings 270,404
  TOTAL EQUITY 379,840
  TOTAL LIABILITIES, SHARES, & EQUITY 3,444,897
INCOME & EXPENSE  
 Loan Income 17,430
 Investment Income 4,347
 Other Income 11,940
 Total Employee Compensation & Benefits 52,048
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 41,740
 Non-operating Income & (Expense) 52,047
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 2,016
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -10,020
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