Dec, 31, 2023 — PATERSON POLICE FEDERAL CREDIT UNION is a federal credit union headquartered in PATERSON, NJ with 1 branch location and about $5.14 million in total assets. Opened 71 years ago in 1953, PATERSON POLICE FEDERAL CREDIT UNION has about 516 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PATERSON POLICE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 111 Broadway PATERSON, NJ 07505-1124 |
| Phone: | (973) 321-1137 |
| Fax: | (973) 321-1154 |
| Website: | https://www.patersonpolicefcu.com |
| Branches: | 1 branch locations |
| Members: | 516 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8339 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $5,137,885 |
| CEO/Manager: | John Russo |
| Chairperson: | John Swistak |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 420,920 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 667,111 |
| Other Loans | 731,253 |
| TOTAL LOANS | 1,398,364 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -28,937 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 43,434 |
| All Other Assets | 0 |
| TOTAL ASSETS | 5,137,885 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 9,299 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 3,667,086 |
| All Other Shares & Deposits | 509,826 |
| TOTAL SHARES & DEPOSITS | 4,176,912 |
| TOTAL LIABILITIES | 4,186,211 |
| Regular Reserve | 0 |
| Other Reserves | 65,397 |
| Undivided Earnings | 886,277 |
| TOTAL EQUITY | 951,674 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,137,885 |
| INCOME & EXPENSE | |
| Loan Income | 110,371 |
| Investment Income | 78,940 |
| Other Income | 2 |
| Total Employee Compensation & Benefits | 76,912 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 39,055 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 87,448 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -14,621 |
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» See also Statement of Financial Condition