Dec, 31, 2023 — BAY ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in VINELAND, NJ with 2 branch locations and about $83.39 million in total assets. Opened 85 years ago in 1939, BAY ATLANTIC FEDERAL CREDIT UNION has about 9,290 members and employs 28 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 |
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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: | 9,290 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 3541 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1939 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $83,391,094 |
CEO/Manager: | Gail R Marino |
Chairperson: | David P Schad |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,333,675 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 12,986,581 |
Unsecured Loans | 10,709,611 |
Other Loans | 16,154,053 |
TOTAL LOANS | 39,850,246 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -397,925 |
Land And Building | 811,811 |
Other Fixed Assets | 263,573 |
NCUSIF Deposit | 798,411 |
All Other Assets | 5,679 |
TOTAL ASSETS | 83,391,094 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,259,370 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 17,271,039 |
Regular shares | 48,067,861 |
All Other Shares & Deposits | 10,360,053 |
TOTAL SHARES & DEPOSITS | 75,698,953 |
TOTAL LIABILITIES | 76,958,544 |
Regular Reserve | 0 |
Other Reserves | -895,585 |
Undivided Earnings | 7,328,135 |
TOTAL EQUITY | 6,432,550 |
TOTAL LIABILITIES, SHARES, & EQUITY | 83,391,094 |
INCOME & EXPENSE | |
Loan Income | 1,944,970 |
Investment Income | 887,596 |
Other Income | 1,300,534 |
Total Employee Compensation & Benefits | 1,587,678 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,387,554 |
Non-operating Income & (Expense) | 29,101 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 45,321 |
Cost of Funds | 145,613 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 404,412 |
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