Dec, 31, 2023 — FEDERAL EMPLOYEES NEWARK FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, NJ with 0 branch location and about $14.87 million in total assets. Opened 82 years ago in 1942, FEDERAL EMPLOYEES NEWARK FEDERAL CREDIT UNION has about 2,304 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FEDERAL EMPLOYEES NEWARK FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 970 Broad St NEWARK, NJ 07102-2534 |
| Phone: | (973) 622-6028 |
| Fax: | (973) 622-6688 |
| Website: | https://www.fenfcu.com |
| Branches: | 0 branch locations |
| Members: | 2,304 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4894 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1942 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $14,866,543 |
| CEO/Manager: | Tracey Davis |
| Chairperson: | LOUIS MILANO |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 647,078 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,259,260 |
| Unsecured Loans | 3,486,305 |
| Other Loans | 1,314,215 |
| TOTAL LOANS | 10,059,780 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -116,665 |
| Land And Building | 0 |
| Other Fixed Assets | 182,740 |
| NCUSIF Deposit | 128,407 |
| All Other Assets | 0 |
| TOTAL ASSETS | 14,866,543 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 895 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 22,108 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 521,584 |
| Regular shares | 8,476,355 |
| All Other Shares & Deposits | 3,115,022 |
| TOTAL SHARES & DEPOSITS | 12,112,961 |
| TOTAL LIABILITIES | 12,135,964 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,730,579 |
| TOTAL EQUITY | 2,730,579 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 14,866,543 |
| INCOME & EXPENSE | |
| Loan Income | 496,916 |
| Investment Income | 71,286 |
| Other Income | 82,954 |
| Total Employee Compensation & Benefits | 266,966 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 298,123 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 85,035 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,032 |
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