Dec, 31, 2023 — B-M S FEDERAL CREDIT UNION is a federal credit union headquartered in NEW BRUNSWICK, NJ with 3 branch locations and about $93.73 million in total assets. Opened 70 years ago in 1954, B-M S FEDERAL CREDIT UNION has about 4,143 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | B-M S FEDERAL CREDIT UNION |
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Address: (Main Office) | 1 Squibb Dr NEW BRUNSWICK, NJ 08901-1588 |
Phone: | (732) 227-6704 |
Fax: | (732) 227-3150 |
Website: | https://bmsfcu.org |
Branches: | 3 branch locations |
Members: | 4,143 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9146 |
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Membership Type: | Multiple common bond - Primarily chemical |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $93,725,910 |
CEO/Manager: | Jennifer Bruett |
Chairperson: | Kathleen McElarney |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,987,340 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 9,393,484 |
Unsecured Loans | 2,111,054 |
Other Loans | 9,069,008 |
TOTAL LOANS | 20,573,546 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -80,413 |
Land And Building | 0 |
Other Fixed Assets | 71,421 |
NCUSIF Deposit | 750,876 |
All Other Assets | 0 |
TOTAL ASSETS | 93,725,910 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 62,990 |
Notes & Interest Payable | 3,759,839 |
Accounts Payable & Other Liabilities | 634,225 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 17,837,876 |
Regular shares | 28,222,512 |
All Other Shares & Deposits | 30,200,565 |
TOTAL SHARES & DEPOSITS | 76,260,954 |
TOTAL LIABILITIES | 80,718,008 |
Regular Reserve | 0 |
Other Reserves | -2,349,692 |
Undivided Earnings | 15,357,594 |
TOTAL EQUITY | 13,007,902 |
TOTAL LIABILITIES, SHARES, & EQUITY | 93,725,910 |
INCOME & EXPENSE | |
Loan Income | 736,022 |
Investment Income | 1,288,972 |
Other Income | 97,243 |
Total Employee Compensation & Benefits | 740,492 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,013,749 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 40,000 |
Cost of Funds | 558,988 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -119,889 |
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