Dec, 31, 2023 — MOTION FEDERAL CREDIT UNION is a federal credit union headquartered in LINDEN, NJ with 6 branch locations and about $65.70 million in total assets. Opened 90 years ago in 1934, MOTION FEDERAL CREDIT UNION has about 5,337 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MOTION FEDERAL CREDIT UNION |
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Address: (Main Office) | 360 N Wood Ave LINDEN, NJ 07036 |
Phone: | (908) 862-6966 |
Fax: | (908) 862-6961 |
Website: | https://www.motionfcu.org |
Branches: | 6 branch locations |
Members: | 5,337 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 53 |
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Membership Type: | Multiple common bond - Primarily petroleum refining |
Corporate Credit Union: | No |
Year Opened: | 1934 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $65,702,405 |
CEO/Manager: | Michael Greenwood |
Chairperson: | Marty Grozinski |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,087,784 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 28,104,245 |
Unsecured Loans | 3,768,033 |
Other Loans | 7,825,577 |
TOTAL LOANS | 39,697,856 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -276,900 |
Land And Building | 1,455,771 |
Other Fixed Assets | 57,303 |
NCUSIF Deposit | 589,338 |
All Other Assets | 0 |
TOTAL ASSETS | 65,702,405 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 980,783 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 18,881,806 |
Regular shares | 35,929,986 |
All Other Shares & Deposits | 5,214,171 |
TOTAL SHARES & DEPOSITS | 60,025,964 |
TOTAL LIABILITIES | 61,006,747 |
Regular Reserve | 0 |
Other Reserves | -740,034 |
Undivided Earnings | 5,435,692 |
TOTAL EQUITY | 4,695,658 |
TOTAL LIABILITIES, SHARES, & EQUITY | 65,702,405 |
INCOME & EXPENSE | |
Loan Income | 1,986,948 |
Investment Income | 729,925 |
Other Income | 281,704 |
Total Employee Compensation & Benefits | 1,038,783 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,525,933 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 98,721 |
Cost of Funds | 65,440 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 599,583 |
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