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 |
| 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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