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 |
| 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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