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LOCAL 1233 FEDERAL CREDIT UNION

Dec, 31, 2023 — LOCAL 1233 FEDERAL CREDIT UNION is a federal credit union headquartered in NEWARK, NJ with 1 branch location and about $12.76 million in total assets. Opened 53 years ago in 1971, LOCAL 1233 FEDERAL CREDIT UNION has about 884 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LOCAL 1233 FEDERAL CREDIT UNION
Address:
(Main Office)
19 Fenwick St
NEWARK, NJ 07114
Phone:(973) 824-7246
Fax:(973) 824-3107
Website:https://www.local1233fcu.org
Branches:1 branch locations
Members:884
Credit Union Type:Federal Credit Union
Charter Number:20773
Membership Type:Associational - Other than religious or fraternal, or 'low-income'
Corporate Credit Union:No
Year Opened:1971
Last Audited:Jul 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$12,763,917
CEO/Manager:Khadija Rover
Chairperson:Anthony Brown

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,743,675
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 3,139,787
 Other Loans 2,510,448
 TOTAL LOANS 5,650,235
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -116,884
 Land And Building 0
 Other Fixed Assets 47,805
 NCUSIF Deposit 107,584
 All Other Assets 0
  TOTAL ASSETS 12,763,917
LIABILITIES & CAPITAL:  
 Dividends Payable 24,070
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 115,452
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 10,449,806
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 10,449,806
  TOTAL LIABILITIES 10,589,328
 Regular Reserve 0
 Other Reserves 67,214
 Undivided Earnings 2,107,375
  TOTAL EQUITY 2,174,589
  TOTAL LIABILITIES, SHARES, & EQUITY 12,763,917
INCOME & EXPENSE  
 Loan Income 462,235
 Investment Income 128,082
 Other Income 25,996
 Total Employee Compensation & Benefits 269,602
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 171,965
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,000
 Cost of Funds 98,399
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 102,089
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