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MID-STATE FEDERAL CREDIT UNION

Jun, 30, 2021 — MID-STATE FEDERAL CREDIT UNION is a federal credit union headquartered in CARTERET, NJ with 2 branch locations and about $19.29 million in total assets. Opened 71 years ago in 1950, MID-STATE FEDERAL CREDIT UNION has about 1,935 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:1,935
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:$19,294,836
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 908,095
TOTAL INVESTMENTS 7,620,913
Loans Held for Sale 0
 
 Real Estate Loans 1,640,248
 Unsecured Loans 7,859,933
 Other Loans 453,640
 TOTAL LOANS 9,953,821
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -187,815
 Land And Building 549,441
 Other Fixed Assets 0
 NCUSIF Deposit 150,250
 All Other Assets 300,131
  TOTAL ASSETS 19,294,836
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,285,837
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,875,417
 Regular shares 8,102,813
 All Other Shares & Deposits 5,210,268
  TOTAL SHARES & DEPOSITS 15,188,498
  TOTAL LIABILITIES 17,474,335
 Regular Reserve 592,940
 Other Reserves 0
 Undivided Earnings 1,227,561
  TOTAL EQUITY 1,820,501
  TOTAL LIABILITIES, SHARES, & EQUITY 19,294,836
INCOME & EXPENSE  
 Loan Income 338,749
 Investment Income 41,993
 Other Income 74,001
 Total Employee Compensation & Benefits 138,851
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 209,285
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 39,000
 Cost of Funds 21,556
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 46,051
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