Dec, 31, 2023 — ATLANTIC CITY ELECTRIC CO EMP FEDERAL CREDIT UNION is a federal credit union headquartered in MAYS LANDING, NJ with 1 branch location and about $58.21 million in total assets. Opened 84 years ago in 1940, ATLANTIC CITY ELECTRIC CO EMP FEDERAL CREDIT UNION has about 3,854 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ATLANTIC CITY ELECTRIC CO EMP FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5100 Harding Hwy Ste 103 MAYS LANDING, NJ 08330-2260 |
| Phone: | (609) 625-6928 |
| Fax: | (609) 625-5385 |
| Website: | https://www.acecefcu.org |
| Branches: | 1 branch locations |
| Members: | 3,854 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3755 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $58,206,047 |
| CEO/Manager: | Michelle D Stiles |
| Chairperson: | Michael Gallagher |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,122,772 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,523,727 |
| Unsecured Loans | 3,760,712 |
| Other Loans | 12,717,694 |
| TOTAL LOANS | 19,002,133 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -198,715 |
| Land And Building | 0 |
| Other Fixed Assets | 12,359 |
| NCUSIF Deposit | 571,506 |
| All Other Assets | 0 |
| TOTAL ASSETS | 58,206,047 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 63,285 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 89,723 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,838,960 |
| Regular shares | 38,553,086 |
| All Other Shares & Deposits | 2,147,240 |
| TOTAL SHARES & DEPOSITS | 53,539,285 |
| TOTAL LIABILITIES | 53,692,293 |
| Regular Reserve | 0 |
| Other Reserves | -2,248,243 |
| Undivided Earnings | 6,761,997 |
| TOTAL EQUITY | 4,513,754 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 58,206,047 |
| INCOME & EXPENSE | |
| Loan Income | 972,379 |
| Investment Income | 840,503 |
| Other Income | 343,006 |
| Total Employee Compensation & Benefits | 769,224 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 934,459 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,722 |
| Cost of Funds | 174,355 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 279,791 |
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