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MOTION FEDERAL CREDIT UNION

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
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
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

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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