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NEW COMMUNITY FEDERAL CREDIT UNION

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

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 1,051,169
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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