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.
Name: | NOVARTIS FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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