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PATERSON POLICE FEDERAL CREDIT UNION

Jun, 30, 2021 — PATERSON POLICE FEDERAL CREDIT UNION is a federal credit union headquartered in Paterson, NJ with 1 branch location and about $5.00 million in total assets. Opened 68 years ago in 1953, PATERSON POLICE FEDERAL CREDIT UNION has about 625 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:http://www.patersonpolicefcu.com
Branches:1 branch locations
Members:625
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$5,004,636
CEO/Manager:Danny Nichols
Chairperson:John Swistak

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 525,074
TOTAL INVESTMENTS 3,327,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 549,354
 Other Loans 607,324
 TOTAL LOANS 1,156,678
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -60,000
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 42,972
 All Other Assets 12,912
  TOTAL ASSETS 5,004,636
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,636
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 4,076,131
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 4,076,131
  TOTAL LIABILITIES 4,079,767
 Regular Reserve 65,397
 Other Reserves 0
 Undivided Earnings 859,472
  TOTAL EQUITY 924,869
  TOTAL LIABILITIES, SHARES, & EQUITY 5,004,636
INCOME & EXPENSE  
 Loan Income 46,004
 Investment Income 26,606
 Other Income 3
 Total Employee Compensation & Benefits 35,252
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 18,628
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,196
 Cost of Funds 8,066
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 15,844
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