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 |
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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 |
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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 |
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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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