Jun, 30, 2024 — FINANCIAL RESOURCES FEDERAL CREDIT UNION is a federal credit union headquartered in BRIDGEWATER, NJ with 13 branch locations and about $580.68 million in total assets. Opened 74 years ago in 1950, FINANCIAL RESOURCES FEDERAL CREDIT UNION has about 27,723 members and employs 93 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FINANCIAL RESOURCES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 520 US Highway 22 Ste 1 BRIDGEWATER, NJ 08807 |
| Phone: | (800) 933-3280 |
| Fax: | (908) 253-6409 |
| Website: | https://www.myfinancialresources.org |
| Branches: | 13 branch locations |
| Members: | 27,723 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6665 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $580,675,313 |
| CEO/Manager: | Frank Almeida |
| Chairperson: | Robert J Graczyk |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 34,732,345 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 298,057,527 |
| Unsecured Loans | 39,600,823 |
| Other Loans | 75,044,200 |
| TOTAL LOANS | 412,702,550 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,256,543 |
| Land And Building | 1,440,260 |
| Other Fixed Assets | 9,479,738 |
| NCUSIF Deposit | 4,601,658 |
| All Other Assets | 0 |
| TOTAL ASSETS | 580,675,313 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 27,562 |
| Notes & Interest Payable | 261,518 |
| Accounts Payable & Other Liabilities | 10,455,228 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 141,358,456 |
| Regular shares | 119,525,566 |
| All Other Shares & Deposits | 266,415,910 |
| TOTAL SHARES & DEPOSITS | 527,299,932 |
| TOTAL LIABILITIES | 538,044,240 |
| Regular Reserve | 0 |
| Other Reserves | -7,304,355 |
| Undivided Earnings | 49,935,428 |
| TOTAL EQUITY | 42,631,073 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 580,675,313 |
| INCOME & EXPENSE | |
| Loan Income | 12,617,630 |
| Investment Income | 1,594,332 |
| Other Income | 1,846,310 |
| Total Employee Compensation & Benefits | 7,048,001 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,290,253 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 900,000 |
| Cost of Funds | 1,431,254 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,167,088 |
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