Dec, 31, 2023 — NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU) is a federally insured state chartered credit union headquartered in NEWARK, NJ with 1 branch location and about $27.62 million in total assets. Opened 89 years ago in 1935, NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION (NBEECU) has about 3,065 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: | NEWARK BOARD OF EDUCATION EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 195 Norman Rd NEWARK, NJ 07106 |
Phone: | (973) 375-9182 |
Fax: | (973) 375-1238 |
Website: | https://nbeecu.org |
Branches: | 1 branch locations |
Members: | 3,065 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62796 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $27,618,933 |
CEO/Manager: | Richard Garcia |
Chairperson: | Mary Hogue |
ASSETS: | $ Amount |
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Cash & Equivalents | 320,617 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 8,442,230 |
Unsecured Loans | 1,600,560 |
Other Loans | 2,514,849 |
TOTAL LOANS | 12,557,639 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -508,796 |
Land And Building | 241,799 |
Other Fixed Assets | 19,148 |
NCUSIF Deposit | 240,569 |
All Other Assets | 0 |
TOTAL ASSETS | 27,618,933 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 118 |
Notes & Interest Payable | 359,816 |
Accounts Payable & Other Liabilities | 878,523 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,679,547 |
Regular shares | 18,761,222 |
All Other Shares & Deposits | 4,418,974 |
TOTAL SHARES & DEPOSITS | 24,859,743 |
TOTAL LIABILITIES | 26,098,200 |
Regular Reserve | 0 |
Other Reserves | -1,124,355 |
Undivided Earnings | 2,645,088 |
TOTAL EQUITY | 1,520,733 |
TOTAL LIABILITIES, SHARES, & EQUITY | 27,618,933 |
INCOME & EXPENSE | |
Loan Income | 581,371 |
Investment Income | 174,847 |
Other Income | 187,240 |
Total Employee Compensation & Benefits | 595,824 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 749,591 |
Non-operating Income & (Expense) | 37,323 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 82,131 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -446,765 |
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