Dec, 31, 2023 — NEW LIFE FEDERAL CREDIT UNION is a federal credit union headquartered in PHILADELPHIA, PA with 1 branch location and about $777,241 in total assets. Opened 21 years ago in 2003, NEW LIFE FEDERAL CREDIT UNION has about 548 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEW LIFE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1152 N 63rd St PHILADELPHIA, PA 19151-3208 |
| Phone: | (215) 477-5000 |
| Fax: | (215) 477-5022 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 548 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24853 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 2003 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $777,241 |
| CEO/Manager: | Ronald R Sheldon Jr |
| Chairperson: | John M Younge |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 731,068 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 40,322 |
| Other Loans | 0 |
| TOTAL LOANS | 40,322 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,032 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 6,692 |
| All Other Assets | 0 |
| TOTAL ASSETS | 777,241 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 0 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 617,367 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 617,367 |
| TOTAL LIABILITIES | 617,367 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 159,874 |
| TOTAL EQUITY | 159,874 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 777,241 |
| INCOME & EXPENSE | |
| Loan Income | 4,090 |
| Investment Income | 29,401 |
| Other Income | 1,922 |
| Total Employee Compensation & Benefits | 0 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 19,406 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -5,777 |
| Cost of Funds | 9,915 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,869 |
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» See also Statement of Financial Condition