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NEW COMMUNITY FEDERAL CREDIT UNION

Jun, 30, 2021 — NEW COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in Newark, NJ with 1 branch location and about $3.45 million in total assets. Opened 37 years ago in 1984, NEW COMMUNITY FEDERAL CREDIT UNION has about 3,591 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:3,591
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$3,449,951
CEO/Manager:Mulu A Gebreyesus
Chairperson:Richard Cammarieri

Call Report

  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,155,778
TOTAL INVESTMENTS 803,822
Loans Held for Sale 0
 
 Real Estate Loans 1,403,998
 Unsecured Loans 44,775
 Other Loans 5,619
 TOTAL LOANS 1,454,392
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -508
 Land And Building 0
 Other Fixed Assets 4,028
 NCUSIF Deposit 28,278
 All Other Assets 4,161
  TOTAL ASSETS 3,449,951
LIABILITIES & CAPITAL:  
 Dividends Payable 1,581
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 20,341
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 77,650
 Regular shares 2,285,401
 All Other Shares & Deposits 675,466
  TOTAL SHARES & DEPOSITS 3,038,517
  TOTAL LIABILITIES 3,060,439
 Regular Reserve 109,436
 Other Reserves 0
 Undivided Earnings 280,076
  TOTAL EQUITY 389,512
  TOTAL LIABILITIES, SHARES, & EQUITY 3,449,951
INCOME & EXPENSE  
 Loan Income 35,743
 Investment Income 5,693
 Other Income 22,766
 Total Employee Compensation & Benefits 101,079
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 86,120
 Non-operating Income & (Expense) 120,797
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 4,369
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -6,548
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