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MOTION FEDERAL CREDIT UNION

Dec, 31, 2021 — MOTION FEDERAL CREDIT UNION is a federal credit union headquartered in LINDEN, NJ with 6 branch locations and about $71.43 million in total assets. Opened 88 years ago in 1934, MOTION FEDERAL CREDIT UNION has about 5,705 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:5,705
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$71,434,318
CEO/Manager:Michael Greenwood
Chairperson:Marty Grozinski

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,064,844
TOTAL INVESTMENTS 16,820,424
Loans Held for Sale 0
 
 Real Estate Loans 26,570,980
 Unsecured Loans 3,967,307
 Other Loans 4,440,570
 TOTAL LOANS 34,978,857
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -225,337
 Land And Building 1,564,203
 Other Fixed Assets 79,293
 NCUSIF Deposit 623,269
 All Other Assets 5,528,765
  TOTAL ASSETS 71,434,318
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,312,519
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 19,535,269
 Regular shares 43,030,380
 All Other Shares & Deposits 4,127,770
  TOTAL SHARES & DEPOSITS 66,693,419
  TOTAL LIABILITIES 68,005,938
 Regular Reserve 2,647,081
 Other Reserves -1,118,381
 Undivided Earnings 1,899,680
  TOTAL EQUITY 3,428,380
  TOTAL LIABILITIES, SHARES, & EQUITY 71,434,318
INCOME & EXPENSE  
 Loan Income 1,477,394
 Investment Income 55,022
 Other Income 289,400
 Total Employee Compensation & Benefits 963,982
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,405,377
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 18,613
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 348,741
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