Dec, 31, 2023 — MAUN FEDERAL CREDIT UNION (MFCU) is a federal credit union headquartered in KENDALL PARK, NJ with 2 branch locations and about $1.65 million in total assets. Opened 3 years ago in 2021, MAUN FEDERAL CREDIT UNION (MFCU) has about 224 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MAUN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3250 Route 27, Suite #201 KENDALL PARK, NJ 08824 |
| Phone: | (866) 628-6328 |
| Fax: | |
| Website: | https://www.maunfcu.org |
| Branches: | 2 branch locations |
| Members: | 224 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24925 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 2021 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,649,322 |
| CEO/Manager: | Nadeem Baig |
| Chairperson: | Irfan Galaria |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 709,005 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 113,374 |
| Other Loans | 830,821 |
| TOTAL LOANS | 944,195 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,442 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 5,564 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,649,322 |
| 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 | 137,919 |
| Regular shares | 1,067,298 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 1,205,218 |
| TOTAL LIABILITIES | 1,205,218 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 444,104 |
| TOTAL EQUITY | 444,104 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,649,322 |
| INCOME & EXPENSE | |
| Loan Income | 0 |
| Investment Income | 31,589 |
| Other Income | 43,860 |
| Total Employee Compensation & Benefits | 21,661 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 21,185 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,304 |
| Cost of Funds | 0 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 25,648 |
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