Jun, 30, 2024 — MOTION FEDERAL CREDIT UNION is a federal credit union headquartered in LINDEN, NJ with 6 branch locations and about $72.59 million in total assets. Opened 90 years ago in 1934, MOTION FEDERAL CREDIT UNION has about 5,547 members and employs 14 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: | 5,547 |
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, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $72,589,165 |
CEO/Manager: | Michael Greenwood |
Chairperson: | Marty Grozinski |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,829,861 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 25,890,935 |
Unsecured Loans | 3,786,610 |
Other Loans | 6,275,012 |
TOTAL LOANS | 35,952,557 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -221,594 |
Land And Building | 1,523,541 |
Other Fixed Assets | 58,164 |
NCUSIF Deposit | 626,704 |
All Other Assets | 0 |
TOTAL ASSETS | 72,589,165 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,355,879 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 18,937,455 |
Regular shares | 44,477,367 |
All Other Shares & Deposits | 4,098,903 |
TOTAL SHARES & DEPOSITS | 67,513,725 |
TOTAL LIABILITIES | 68,869,604 |
Regular Reserve | 0 |
Other Reserves | -1,171,572 |
Undivided Earnings | 4,891,133 |
TOTAL EQUITY | 3,719,561 |
TOTAL LIABILITIES, SHARES, & EQUITY | 72,589,165 |
INCOME & EXPENSE | |
Loan Income | 1,114,893 |
Investment Income | 197,024 |
Other Income | 212,508 |
Total Employee Compensation & Benefits | 641,369 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,093,147 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,000 |
Cost of Funds | 13,337 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 344,372 |
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