Jun, 30, 2024 — BAY ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in VINELAND, NJ with 2 branch locations and about $87.52 million in total assets. Opened 85 years ago in 1939, BAY ATLANTIC FEDERAL CREDIT UNION has about 9,120 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BAY ATLANTIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 101 W Elmer Rd VINELAND, NJ 08360-6312 |
| Phone: | (856) 696-2525 |
| Fax: | (856) 691-5593 |
| Website: | https://www.bayatlanticfcu.org |
| Branches: | 2 branch locations |
| Members: | 9,120 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3541 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Mar 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $87,521,030 |
| CEO/Manager: | Gail R Marino |
| Chairperson: | David P Schad |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,310,176 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 12,648,363 |
| Unsecured Loans | 11,382,024 |
| Other Loans | 12,354,699 |
| TOTAL LOANS | 36,385,086 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -472,888 |
| Land And Building | 849,664 |
| Other Fixed Assets | 342,404 |
| NCUSIF Deposit | 756,819 |
| All Other Assets | 0 |
| TOTAL ASSETS | 87,521,030 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 705,060 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,089,279 |
| Regular shares | 50,286,444 |
| All Other Shares & Deposits | 13,230,520 |
| TOTAL SHARES & DEPOSITS | 81,606,243 |
| TOTAL LIABILITIES | 82,311,303 |
| Regular Reserve | 0 |
| Other Reserves | -1,675,197 |
| Undivided Earnings | 6,884,924 |
| TOTAL EQUITY | 5,209,727 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 87,521,030 |
| INCOME & EXPENSE | |
| Loan Income | 1,130,900 |
| Investment Income | 420,169 |
| Other Income | 973,033 |
| Total Employee Compensation & Benefits | 1,142,221 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,815,793 |
| Non-operating Income & (Expense) | 483,958 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 131,112 |
| Cost of Funds | 48,622 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 563,864 |
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