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BLOOMFIELD FIRE AND POLICE FEDERAL CREDIT UNION

Jun, 30, 2023 — BLOOMFIELD FIRE AND POLICE FEDERAL CREDIT UNION is a federal credit union headquartered in BLOOMFIELD, NJ with 1 branch location and about $8.10 million in total assets. Opened 73 years ago in 1951, BLOOMFIELD FIRE AND POLICE FEDERAL CREDIT UNION has about 1,278 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:BLOOMFIELD FIRE AND POLICE FEDERAL CREDIT UNION
Address:
(Main Office)
375 Franklin St
BLOOMFIELD, NJ 07003-3414
Phone:(973) 680-4123
Fax:(973) 680-4217
Website:https://bfpfcu.com
Branches:1 branch locations
Members:1,278
Credit Union Type:Federal Credit Union
Charter Number:7069
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1951
Last Audited:Aug 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$8,103,473
CEO/Manager:Louis Venezia
Chairperson:Joseph Coletta

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 387,017
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,643,879
 Other Loans 3,791,182
 TOTAL LOANS 5,435,061
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -137,716
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 66,198
 All Other Assets 0
  TOTAL ASSETS 8,103,473
LIABILITIES & CAPITAL:  
 Dividends Payable 6,119
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,616
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,355,367
 All Other Shares & Deposits 1,428,655
  TOTAL SHARES & DEPOSITS 6,784,022
  TOTAL LIABILITIES 6,791,757
 Regular Reserve 0
 Other Reserves 205,000
 Undivided Earnings 1,106,716
  TOTAL EQUITY 1,311,716
  TOTAL LIABILITIES, SHARES, & EQUITY 8,103,473
INCOME & EXPENSE  
 Loan Income 230,289
 Investment Income 10,306
 Other Income 568
 Total Employee Compensation & Benefits 124,027
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 49,756
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 59,405
 Cost of Funds 23,652
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -15,677
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