Mar, 31, 2022 — NEW COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, NJ with 1 branch location and about $3.40 million in total assets. Opened 38 years ago in 1984, NEW COMMUNITY FEDERAL CREDIT UNION has about 3,604 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: | 3,604 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,403,516 |
| CEO/Manager: | Mulu A Gebreyesus |
| Chairperson: | Richard Cammarieri |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,051,169 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,286,942 |
| Unsecured Loans | 33,265 |
| Other Loans | 0 |
| TOTAL LOANS | 1,320,207 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,886 |
| Land And Building | 0 |
| Other Fixed Assets | 3,165 |
| NCUSIF Deposit | 28,278 |
| All Other Assets | 0 |
| TOTAL ASSETS | 3,403,516 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 349 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,722 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 94,372 |
| Regular shares | 2,231,266 |
| All Other Shares & Deposits | 662,325 |
| TOTAL SHARES & DEPOSITS | 2,987,963 |
| TOTAL LIABILITIES | 3,008,034 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 395,482 |
| TOTAL EQUITY | 395,482 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,403,516 |
| INCOME & EXPENSE | |
| Loan Income | 16,090 |
| Investment Income | 2,534 |
| Other Income | 13,515 |
| Total Employee Compensation & Benefits | 46,500 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 43,517 |
| Non-operating Income & (Expense) | 71,616 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,697 |
| Cost of Funds | 1,353 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,698 |
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