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OCNAC #1 FEDERAL CREDIT UNION

Jun, 30, 2021 — OCNAC #1 FEDERAL CREDIT UNION is a federal credit union headquartered in jersey city, NJ with 1 branch location and about $7.93 million in total assets. Opened 72 years ago in 1949, OCNAC #1 FEDERAL CREDIT UNION has about 2,486 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:OCNAC #1 FEDERAL CREDIT UNION
Address:
(Main Office)
1082 summit ave
jersey city, NJ 07307
Phone:(201) 420-1026
Fax:(201) 420-6281
Website:http://ocnac.com
Branches:1 branch locations
Members:2,486
Credit Union Type:Federal Credit Union
Charter Number:5987
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1949
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$7,930,136
CEO/Manager:Brent Hamilton
Chairperson:nicholas antonicello

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,233,566
TOTAL INVESTMENTS 1,765,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,535,711
 Other Loans 368,049
 TOTAL LOANS 1,903,760
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -72,348
 Land And Building 10,000
 Other Fixed Assets 6,768
 NCUSIF Deposit 69,128
 All Other Assets 14,262
  TOTAL ASSETS 7,930,136
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 31,220
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 7,213,554
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 7,213,554
  TOTAL LIABILITIES 7,244,774
 Regular Reserve 58,401
 Other Reserves 0
 Undivided Earnings 626,961
  TOTAL EQUITY 685,362
  TOTAL LIABILITIES, SHARES, & EQUITY 7,930,136
INCOME & EXPENSE  
 Loan Income 115,999
 Investment Income 13,677
 Other Income 2,779
 Total Employee Compensation & Benefits 49,883
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 66,489
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 24,000
 Cost of Funds 2,055
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 980
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