Dec, 31, 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 822 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: | 822 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $19,200,185 |
| CEO/Manager: | Tracy Sussmann |
| Chairperson: | Frank Roche |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 795,178 |
| TOTAL INVESTMENTS | 7,620,913 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,562,257 |
| Unsecured Loans | 7,551,948 |
| Other Loans | 444,440 |
| TOTAL LOANS | 9,558,645 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -248,824 |
| Land And Building | 1,036,227 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 150,250 |
| All Other Assets | 287,796 |
| TOTAL ASSETS | 19,200,185 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,400,166 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,067,071 |
| Regular shares | 7,840,429 |
| All Other Shares & Deposits | 4,970,800 |
| TOTAL SHARES & DEPOSITS | 14,878,300 |
| TOTAL LIABILITIES | 17,278,466 |
| Regular Reserve | 592,940 |
| Other Reserves | 0 |
| Undivided Earnings | 1,328,779 |
| TOTAL EQUITY | 1,921,719 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 19,200,185 |
| INCOME & EXPENSE | |
| Loan Income | 672,610 |
| Investment Income | 84,218 |
| Other Income | 67,336 |
| Total Employee Compensation & Benefits | 279,178 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 399,941 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 90,000 |
| Cost of Funds | 39,304 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 147,269 |
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