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NOVARTIS FEDERAL CREDIT UNION

Dec, 31, 2023 — NOVARTIS FEDERAL CREDIT UNION is a federal credit union headquartered in EAST HANOVER, NJ with 2 branch locations and about $103.73 million in total assets. Opened 77 years ago in 1947, NOVARTIS FEDERAL CREDIT UNION has about 3,922 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 221278556
Name:NOVARTIS FEDERAL CREDIT UNION
Address:
(Main Office)
124 S Ridgedale AVe
EAST HANOVER, NJ 07936
Phone:(973) 947-1000
Fax:(973) 947-0998
Website:https://www.ridgedalefcu.org
Branches:2 branch locations
Members:3,922
Credit Union Type:Federal Credit Union
Charter Number:5419
Membership Type:Manufacturing - Chemicals
Corporate Credit Union:No
Year Opened:1947
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$103,726,835
CEO/Manager:Linda L Rheiner
Chairperson:Michael Hatolski

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,187,890
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 33,973,980
 Unsecured Loans 2,297,345
 Other Loans 8,565,113
 TOTAL LOANS 44,836,438
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -278,902
 Land And Building 2,380,937
 Other Fixed Assets 204,283
 NCUSIF Deposit 993,996
 All Other Assets 0
  TOTAL ASSETS 103,726,835
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 949,990
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,130,249
 Regular shares 34,020,330
 All Other Shares & Deposits 38,669,324
  TOTAL SHARES & DEPOSITS 93,819,904
  TOTAL LIABILITIES 94,769,894
 Regular Reserve 0
 Other Reserves -132,246
 Undivided Earnings 9,089,187
  TOTAL EQUITY 8,956,941
  TOTAL LIABILITIES, SHARES, & EQUITY 103,726,835
INCOME & EXPENSE  
 Loan Income 2,278,667
 Investment Income 912,579
 Other Income 100,492
 Total Employee Compensation & Benefits 2,543,740
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,880,461
 Non-operating Income & (Expense) -61,314
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 70,678
 Cost of Funds 967,207
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,885,563
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