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ASPIRE FEDERAL CREDIT UNION

Dec, 31, 2021 — ASPIRE FEDERAL CREDIT UNION is a federal credit union headquartered in Clark, NJ with 1 branch location and about $141.59 million in total assets. Opened 74 years ago in 1948, ASPIRE FEDERAL CREDIT UNION has about 19,956 members and employs 35 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 226076083
Name:ASPIRE FEDERAL CREDIT UNION
Address:
(Main Office)
67 Walnut Ave, 4th Floor - Suite 40
Clark, NJ 07066
Phone:(732) 388-0477
Fax:(732) 388-2062
Website:http://www.aspirefcu.org
Branches:1 branch locations
Members:19,956
Credit Union Type:Federal Credit Union
Charter Number:5800
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1948
Last Audited:Mar 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$141,588,756
CEO/Manager:Thomas J O'Shea
Chairperson:James Ostaszewski

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 67,087,503
TOTAL INVESTMENTS 674,037
Loans Held for Sale 0
 
 Real Estate Loans 25,661,213
 Unsecured Loans 15,720,706
 Other Loans 22,105,843
 TOTAL LOANS 63,487,762
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,420,000
 Land And Building 0
 Other Fixed Assets 146,733
 NCUSIF Deposit 1,255,084
 All Other Assets 13,357,637
  TOTAL ASSETS 141,588,756
LIABILITIES & CAPITAL:  
 Dividends Payable 326
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,454,702
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 35,484,195
 Regular shares 73,053,355
 All Other Shares & Deposits 26,555,521
  TOTAL SHARES & DEPOSITS 135,093,071
  TOTAL LIABILITIES 138,548,099
 Regular Reserve 5,536,159
 Other Reserves -1,094,630
 Undivided Earnings -1,400,872
  TOTAL EQUITY 3,040,657
  TOTAL LIABILITIES, SHARES, & EQUITY 141,588,756
INCOME & EXPENSE  
 Loan Income 884,225
 Investment Income 16,602
 Other Income 303,558
 Total Employee Compensation & Benefits 1,801,639
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,423,657
 Non-operating Income & (Expense) -320,324
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 473,763
 Cost of Funds 11,599
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,143,360
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