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NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU)

Jun, 30, 2021 — 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 $29.23 million in total assets. Opened 86 years ago in 1935, NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU) has about 3,410 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:3,410
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$29,227,093
CEO/Manager:Richard Garcia
Chairperson:Mary Hogue

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,773,439
TOTAL INVESTMENTS 16,515,398
Loans Held for Sale 0
 
 Real Estate Loans 5,743,036
 Unsecured Loans 1,108,341
 Other Loans 1,523,106
 TOTAL LOANS 8,374,483
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -532,036
 Land And Building 285,801
 Other Fixed Assets 29,901
 NCUSIF Deposit 237,732
 All Other Assets 542,375
  TOTAL ASSETS 29,227,093
LIABILITIES & CAPITAL:  
 Dividends Payable 4
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 109,116
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,860,882
 Regular shares 21,629,245
 All Other Shares & Deposits 2,724,624
  TOTAL SHARES & DEPOSITS 26,214,751
  TOTAL LIABILITIES 26,323,871
 Regular Reserve 702,790
 Other Reserves 0
 Undivided Earnings 2,200,432
  TOTAL EQUITY 2,903,222
  TOTAL LIABILITIES, SHARES, & EQUITY 29,227,093
INCOME & EXPENSE  
 Loan Income 194,336
 Investment Income 134,069
 Other Income 77,161
 Total Employee Compensation & Benefits 256,107
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 356,004
 Non-operating Income & (Expense) 160,811
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 9,505
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -55,239
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