Dec, 31, 2023 — FIRST POINT FEDERAL CREDIT UNION is a federal credit union headquartered in HAMILTON, NJ with 2 branch locations and about $27.22 million in total assets. Opened 69 years ago in 1955, FIRST POINT FEDERAL CREDIT UNION has about 1,808 members and employs 5 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 POINT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2430 HAMILTON AVE STE 2 HAMILTON, NJ 08619 |
| Phone: | (609) 838-2847 |
| Fax: | (609) 838-2850 |
| Website: | https://firstpointfcu.com |
| Branches: | 2 branch locations |
| Members: | 1,808 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10319 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $27,219,452 |
| CEO/Manager: | JUDY GERNHART |
| Chairperson: | PAUL F MAGRINO |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,099,068 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,238,863 |
| Unsecured Loans | 2,479,045 |
| Other Loans | 1,163,181 |
| TOTAL LOANS | 8,881,089 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -230,384 |
| Land And Building | 157,095 |
| Other Fixed Assets | 2,533 |
| NCUSIF Deposit | 275,340 |
| All Other Assets | 0 |
| TOTAL ASSETS | 27,219,452 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 89,080 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,053,443 |
| Regular shares | 12,147,683 |
| All Other Shares & Deposits | 11,485,564 |
| TOTAL SHARES & DEPOSITS | 26,686,689 |
| TOTAL LIABILITIES | 26,775,769 |
| Regular Reserve | 0 |
| Other Reserves | -1,554,665 |
| Undivided Earnings | 1,998,348 |
| TOTAL EQUITY | 443,683 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,219,452 |
| INCOME & EXPENSE | |
| Loan Income | 544,058 |
| Investment Income | 309,886 |
| Other Income | 14,414 |
| Total Employee Compensation & Benefits | 317,262 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 310,417 |
| Non-operating Income & (Expense) | 9,903 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 211,000 |
| Cost of Funds | 394,126 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -879,462 |
| ↑ Back to Top | |