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MID-STATE FEDERAL CREDIT UNION

Sep, 30, 2021 — MID-STATE FEDERAL CREDIT UNION is a federal credit union headquartered in CARTERET, NJ with 2 branch locations and about $19.20 million in total assets. Opened 72 years ago in 1950, MID-STATE FEDERAL CREDIT UNION has about 834 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MID-STATE FEDERAL CREDIT UNION
Address:
(Main Office)
237 ROOSEVELT AVE
CARTERET, NJ 07008
Phone:(732) 541-4151
Fax:(732) 541-4449
Website:http://www.midstatefcu.org
Branches:2 branch locations
Members:834
Credit Union Type:Federal Credit Union
Charter Number:6739
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1950
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$19,200,935
CEO/Manager:Tracy Sussmann
Chairperson:Frank Roche

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 898,791
TOTAL INVESTMENTS 7,620,913
Loans Held for Sale 0
 
 Real Estate Loans 1,601,584
 Unsecured Loans 7,803,499
 Other Loans 485,199
 TOTAL LOANS 9,890,282
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -203,074
 Land And Building 556,137
 Other Fixed Assets 0
 NCUSIF Deposit 150,250
 All Other Assets 287,636
  TOTAL ASSETS 19,200,935
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,334,019
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,906,289
 Regular shares 7,863,239
 All Other Shares & Deposits 5,178,740
  TOTAL SHARES & DEPOSITS 14,948,268
  TOTAL LIABILITIES 17,282,287
 Regular Reserve 592,940
 Other Reserves 0
 Undivided Earnings 1,325,708
  TOTAL EQUITY 1,918,648
  TOTAL LIABILITIES, SHARES, & EQUITY 19,200,935
INCOME & EXPENSE  
 Loan Income 506,682
 Investment Income 59,641
 Other Income 49,233
 Total Employee Compensation & Benefits 209,024
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 312,011
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 51,000
 Cost of Funds 30,851
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 144,198
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