ASPIRE FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.aspirefcu.org for more information.
Jun, 30, 2024 — 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 76 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.
| 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: | https://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 |
| 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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