Dec, 31, 2023 — FIRST ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in EATONTOWN, NJ with 4 branch locations and about $295.40 million in total assets. Opened 89 years ago in 1935, FIRST ATLANTIC FEDERAL CREDIT UNION has about 24,075 members and employs 58 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FIRST ATLANTIC FEDERAL CREDIT UNION |
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Address: (Main Office) | 468 INDUSTRIAL WAY W EATONTOWN, NJ 07724-2210 |
Phone: | (732) 380-3600 |
Fax: | (732) 380-3637 |
Website: | https://fafcu.com |
Branches: | 4 branch locations |
Members: | 24,075 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 82 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $295,399,987 |
CEO/Manager: | ANN GOLDINAK |
Chairperson: | JASON SNAGUSKY |
ASSETS: | $ Amount |
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Cash & Equivalents | 30,973,105 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 112,628,871 |
Unsecured Loans | 6,310,667 |
Other Loans | 110,796,542 |
TOTAL LOANS | 229,736,080 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,468,305 |
Land And Building | 5,701,337 |
Other Fixed Assets | 1,000,724 |
NCUSIF Deposit | 2,440,329 |
All Other Assets | 672,559 |
TOTAL ASSETS | 295,399,987 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 32,270 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 6,536,665 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 88,179,902 |
Regular shares | 98,538,872 |
All Other Shares & Deposits | 68,452,806 |
TOTAL SHARES & DEPOSITS | 255,171,580 |
TOTAL LIABILITIES | 261,740,515 |
Regular Reserve | 0 |
Other Reserves | 8,490,072 |
Undivided Earnings | 25,169,400 |
TOTAL EQUITY | 33,659,472 |
TOTAL LIABILITIES, SHARES, & EQUITY | 295,399,987 |
INCOME & EXPENSE | |
Loan Income | 12,065,729 |
Investment Income | 2,034,479 |
Other Income | 994,521 |
Total Employee Compensation & Benefits | 4,356,708 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,193,989 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,175,343 |
Cost of Funds | 1,841,320 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,662,899 |
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» See also Statement of Financial Condition