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FIRST ATLANTIC FEDERAL CREDIT UNION

Jun, 30, 2021 — FIRST ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in EATONTOWN, NJ with 4 branch locations and about $292.85 million in total assets. Opened 86 years ago in 1935, FIRST ATLANTIC FEDERAL CREDIT UNION has about 18,689 members and employs 56 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 221275779
Name:FIRST ATLANTIC FEDERAL CREDIT UNION
Address:
(Main Office)
468 INDUSTRIAL WAY W
EATONTOWN, NJ 07724-2210
Phone:(732) 380-3600
Fax:(732) 380-3637
Website:http://fafcu.com
Branches:4 branch locations
Members:18,689
Credit Union Type:Federal Credit Union
Charter Number:82
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$292,854,142
CEO/Manager:ANN GOLDINAK
Chairperson:HEATHER E BROTHWELL

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 68,172,849
TOTAL INVESTMENTS 7,380,515
Loans Held for Sale 0
 
 Real Estate Loans 102,052,672
 Unsecured Loans 16,196,271
 Other Loans 80,611,124
 TOTAL LOANS 198,860,067
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,190,198
 Land And Building 6,116,935
 Other Fixed Assets 307,806
 NCUSIF Deposit 2,483,400
 All Other Assets 10,722,768
  TOTAL ASSETS 292,854,142
LIABILITIES & CAPITAL:  
 Dividends Payable 6,620
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,443,428
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 94,709,158
 Regular shares 112,838,512
 All Other Shares & Deposits 57,242,606
  TOTAL SHARES & DEPOSITS 264,790,276
  TOTAL LIABILITIES 267,240,324
 Regular Reserve 8,597,717
 Other Reserves 28,980
 Undivided Earnings 16,987,121
  TOTAL EQUITY 25,613,818
  TOTAL LIABILITIES, SHARES, & EQUITY 292,854,142
INCOME & EXPENSE  
 Loan Income 4,546,923
 Investment Income 136,439
 Other Income 568,148
 Total Employee Compensation & Benefits 2,427,723
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,605,295
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 342,328
 Cost of Funds 190,747
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 507,803
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