Dec, 31, 2023 — RARITAN BAY FEDERAL CREDIT UNION is a federal credit union headquartered in SAYREVILLE, NJ with 1 branch location and about $106.21 million in total assets. Opened 83 years ago in 1941, RARITAN BAY FEDERAL CREDIT UNION has about 8,552 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RARITAN BAY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 491 Raritan St SAYREVILLE, NJ 08872-1442 |
| Phone: | (732) 727-3500 |
| Fax: | (732) 727-2527 |
| Website: | https://www.rbfcu.coop |
| Branches: | 1 branch locations |
| Members: | 8,552 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4726 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $106,207,976 |
| CEO/Manager: | Ronald C Behrens |
| Chairperson: | Elsie Mroczkowski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,858,765 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,243,709 |
| Unsecured Loans | 3,005,884 |
| Other Loans | 18,978,539 |
| TOTAL LOANS | 34,593,541 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -389,554 |
| Land And Building | 575,576 |
| Other Fixed Assets | 105,383 |
| NCUSIF Deposit | 1,017,972 |
| All Other Assets | 0 |
| TOTAL ASSETS | 106,207,976 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 59,377 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 901,268 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 26,780,708 |
| Regular shares | 53,980,650 |
| All Other Shares & Deposits | 20,071,580 |
| TOTAL SHARES & DEPOSITS | 100,832,938 |
| TOTAL LIABILITIES | 101,793,583 |
| Regular Reserve | 0 |
| Other Reserves | 1,044,216 |
| Undivided Earnings | 3,370,177 |
| TOTAL EQUITY | 4,414,393 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 106,207,976 |
| INCOME & EXPENSE | |
| Loan Income | 1,939,781 |
| Investment Income | 1,183,680 |
| Other Income | 820,993 |
| Total Employee Compensation & Benefits | 1,866,519 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,429,360 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 199,955 |
| Cost of Funds | 273,605 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 286,149 |
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