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NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU)

Dec, 31, 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 $28.23 million in total assets. Opened 87 years ago in 1935, NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU) has about 3,320 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:3,320
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:$28,226,016
CEO/Manager:Richard Garcia
Chairperson:Mary Hogue

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,302,467
TOTAL INVESTMENTS 16,733,730
Loans Held for Sale 0
 
 Real Estate Loans 6,760,692
 Unsecured Loans 1,329,852
 Other Loans 1,745,391
 TOTAL LOANS 9,835,935
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -565,164
 Land And Building 275,054
 Other Fixed Assets 24,849
 NCUSIF Deposit 237,732
 All Other Assets 381,413
  TOTAL ASSETS 28,226,016
LIABILITIES & CAPITAL:  
 Dividends Payable 4
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 172,176
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,794,142
 Regular shares 20,487,439
 All Other Shares & Deposits 2,753,668
  TOTAL SHARES & DEPOSITS 25,035,249
  TOTAL LIABILITIES 25,207,429
 Regular Reserve 702,790
 Other Reserves 0
 Undivided Earnings 2,315,797
  TOTAL EQUITY 3,018,587
  TOTAL LIABILITIES, SHARES, & EQUITY 28,226,016
INCOME & EXPENSE  
 Loan Income 412,822
 Investment Income 247,848
 Other Income 155,348
 Total Employee Compensation & Benefits 556,912
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 668,712
 Non-operating Income & (Expense) 493,523
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 23,791
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 553,649
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