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MOTION FEDERAL CREDIT UNION

Dec, 31, 2020 — MOTION FEDERAL CREDIT UNION is a federal credit union headquartered in LINDEN, NJ with 6 branch locations and about $66.89 million in total assets. Opened 87 years ago in 1934, MOTION FEDERAL CREDIT UNION has about 6,159 members and employs 15 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
Address:
(Main Office)
360 N WOOD AVE
LINDEN, NJ 07036
Phone:(908) 862-6966
Fax:(908) 862-6961
Website:http://www.motionfcu.org
Branches:6 branch locations
Members:6,159
Credit Union Type:Federal Credit Union
Charter Number:53
Membership Type:Multiple common bond - Primarily petroleum refining
Corporate Credit Union:No
Year Opened:1934
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$66,890,129
CEO/Manager:Michael Greenwood
Chairperson:Marty Grozinski

Call Report

  • Commercial Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,858,577
TOTAL INVESTMENTS 15,083,688
Loans Held for Sale 0
 
 Real Estate Loans 27,490,136
 Unsecured Loans 4,171,555
 Other Loans 4,214,848
 TOTAL LOANS 35,876,539
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -242,758
 Land And Building 1,618,418
 Other Fixed Assets 105,790
 NCUSIF Deposit 593,685
 All Other Assets 4,996,190
  TOTAL ASSETS 66,890,129
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,472,660
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 18,361,747
 Regular shares 39,027,426
 All Other Shares & Deposits 5,165,652
  TOTAL SHARES & DEPOSITS 62,554,825
  TOTAL LIABILITIES 64,027,485
 Regular Reserve 2,647,080
 Other Reserves -1,335,377
 Undivided Earnings 1,550,941
  TOTAL EQUITY 2,862,644
  TOTAL LIABILITIES, SHARES, & EQUITY 66,890,129
INCOME & EXPENSE  
 Loan Income 1,585,534
 Investment Income 212,332
 Other Income 560,392
 Total Employee Compensation & Benefits 1,273,736
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,440,128
 Non-operating Income & (Expense) 1,556
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 709
 Cost of Funds 29,758
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -384,517
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