Dec, 31, 2023 — FIRST ATLANTIC FEDERAL CREDIT UNION is a federal credit union headquartered in EATONTOWN, NJ with 4 branch locations and about $295.40 million in total assets. Opened 89 years ago in 1935, FIRST ATLANTIC FEDERAL CREDIT UNION has about 24,075 members and employs 58 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 ATLANTIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 468 INDUSTRIAL WAY W EATONTOWN, NJ 07724-2210 |
| Phone: | (732) 380-3600 |
| Fax: | (732) 380-3637 |
| Website: | https://fafcu.com |
| Branches: | 4 branch locations |
| Members: | 24,075 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 82 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $295,399,987 |
| CEO/Manager: | ANN GOLDINAK |
| Chairperson: | JASON SNAGUSKY |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 30,973,105 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 112,628,871 |
| Unsecured Loans | 6,310,667 |
| Other Loans | 110,796,542 |
| TOTAL LOANS | 229,736,080 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,468,305 |
| Land And Building | 5,701,337 |
| Other Fixed Assets | 1,000,724 |
| NCUSIF Deposit | 2,440,329 |
| All Other Assets | 672,559 |
| TOTAL ASSETS | 295,399,987 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 32,270 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 6,536,665 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 88,179,902 |
| Regular shares | 98,538,872 |
| All Other Shares & Deposits | 68,452,806 |
| TOTAL SHARES & DEPOSITS | 255,171,580 |
| TOTAL LIABILITIES | 261,740,515 |
| Regular Reserve | 0 |
| Other Reserves | 8,490,072 |
| Undivided Earnings | 25,169,400 |
| TOTAL EQUITY | 33,659,472 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 295,399,987 |
| INCOME & EXPENSE | |
| Loan Income | 12,065,729 |
| Investment Income | 2,034,479 |
| Other Income | 994,521 |
| Total Employee Compensation & Benefits | 4,356,708 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,193,989 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,175,343 |
| Cost of Funds | 1,841,320 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,662,899 |
| ↑ Back to Top | |