Dec, 31, 2023 — DEEPWATER INDUSTRIES FEDERAL CREDIT UNION is a federal credit union headquartered in DEEPWATER, NJ with 2 branch locations and about $108.59 million in total assets. Opened 89 years ago in 1935, DEEPWATER INDUSTRIES FEDERAL CREDIT UNION has about 9,331 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DEEPWATER INDUSTRIES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 565 North Broadway DEEPWATER, NJ 08023 |
| Phone: | (856) 299-1279 |
| Fax: | (856) 299-0287 |
| Website: | https://www.deepwaterind.org |
| Branches: | 2 branch locations |
| Members: | 9,331 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 430 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $108,589,907 |
| CEO/Manager: | Sutton Gant |
| Chairperson: | Charles E Minix |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,787,885 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,277,639 |
| Unsecured Loans | 8,475,635 |
| Other Loans | 28,118,878 |
| TOTAL LOANS | 51,872,152 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -189,000 |
| Land And Building | 811,262 |
| Other Fixed Assets | 195,670 |
| NCUSIF Deposit | 1,016,375 |
| All Other Assets | 0 |
| TOTAL ASSETS | 108,589,907 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 25,685 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 783,190 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,897,601 |
| Regular shares | 52,484,872 |
| All Other Shares & Deposits | 24,538,225 |
| TOTAL SHARES & DEPOSITS | 98,920,698 |
| TOTAL LIABILITIES | 99,729,573 |
| Regular Reserve | 0 |
| Other Reserves | -969,641 |
| Undivided Earnings | 9,829,975 |
| TOTAL EQUITY | 8,860,334 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 108,589,907 |
| INCOME & EXPENSE | |
| Loan Income | 2,599,245 |
| Investment Income | 662,461 |
| Other Income | 358,776 |
| Total Employee Compensation & Benefits | 1,216,373 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,405,100 |
| Non-operating Income & (Expense) | 59,640 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 52,813 |
| Cost of Funds | 181,488 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 588,915 |
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