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National Credit Union Service Organization

MEMBER'S 1ST OF NJ FEDERAL CREDIT UNION

Dec, 31, 2023 — MEMBER'S 1ST OF NJ FEDERAL CREDIT UNION is a federal credit union headquartered in VINELAND, NJ with 2 branch locations and about $83.05 million in total assets. Opened 86 years ago in 1938, MEMBER'S 1ST OF NJ FEDERAL CREDIT UNION has about 9,697 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MEMBER'S 1ST OF NJ FEDERAL CREDIT UNION
Address:
(Main Office)
37 W Landis Ave
VINELAND, NJ 08360-8122
Phone:(856) 696-0767
Fax:(856) 696-3579
Website:https://www.membersonenj.org
Branches:2 branch locations
Members:9,697
Credit Union Type:Federal Credit Union
Charter Number:2574
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1938
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$83,051,633
CEO/Manager:Eileen Crean
Chairperson:John L Henderson

Call Report

  • Payday Alternative Loans (PAL Loans)
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,093,840
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 14,967,259
 Unsecured Loans 10,695,727
 Other Loans 23,789,064
 TOTAL LOANS 49,452,050
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -295,683
 Land And Building 3,382,095
 Other Fixed Assets 51,188
 NCUSIF Deposit 777,478
 All Other Assets 60,120
  TOTAL ASSETS 83,051,633
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 1,022,648
 Accounts Payable & Other Liabilities 322,880
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 15,146,807
 Regular shares 47,923,790
 All Other Shares & Deposits 12,445,156
  TOTAL SHARES & DEPOSITS 75,515,752
  TOTAL LIABILITIES 76,861,280
 Regular Reserve 0
 Other Reserves 469,462
 Undivided Earnings 5,720,891
  TOTAL EQUITY 6,190,353
  TOTAL LIABILITIES, SHARES, & EQUITY 83,051,633
INCOME & EXPENSE  
 Loan Income 2,449,178
 Investment Income 396,272
 Other Income 799,190
 Total Employee Compensation & Benefits 1,210,624
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,314,460
 Non-operating Income & (Expense) 650,266
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 86,925
 Cost of Funds 303,569
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 379,328
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