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NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU)

Mar, 31, 2022 — NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU) is a federally insured state chartered credit union headquartered in NEWARK, NJ with 1 branch location and about $28.77 million in total assets. Opened 87 years ago in 1935, NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU) has about 3,362 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION
Address:
(Main Office)
195 Norman Rd
NEWARK, NJ 07106
Phone:(973) 375-9182
Fax:(973) 375-1238
Website:http://nbeecu.org
Branches:1 branch locations
Members:3,362
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62796
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1935
Last Audited:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$28,770,923
CEO/Manager:Richard Garcia
Chairperson:Mary Hogue

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,699,183
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 6,671,220
 Unsecured Loans 1,310,752
 Other Loans 1,775,191
 TOTAL LOANS 9,757,163
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -584,676
 Land And Building 269,833
 Other Fixed Assets 22,322
 NCUSIF Deposit 237,732
 All Other Assets 243,557
  TOTAL ASSETS 28,770,923
LIABILITIES & CAPITAL:  
 Dividends Payable 5
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 168,860
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,747,247
 Regular shares 21,299,221
 All Other Shares & Deposits 2,523,013
  TOTAL SHARES & DEPOSITS 25,569,481
  TOTAL LIABILITIES 25,738,346
 Regular Reserve 0
 Other Reserves 702,790
 Undivided Earnings 2,329,787
  TOTAL EQUITY 3,032,577
  TOTAL LIABILITIES, SHARES, & EQUITY 28,770,923
INCOME & EXPENSE  
 Loan Income 105,957
 Investment Income 55,312
 Other Income 35,564
 Total Employee Compensation & Benefits 123,428
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 178,410
 Non-operating Income & (Expense) 122,322
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 3,327
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 13,990
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