Dec, 31, 2023 — SEAPORT FEDERAL CREDIT UNION is a federal credit union headquartered in ELIZABETH, NJ with 3 branch locations and about $87.78 million in total assets. Opened 55 years ago in 1969, SEAPORT FEDERAL CREDIT UNION has about 5,481 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SEAPORT FEDERAL CREDIT UNION |
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Address: (Main Office) | 5080 McLester St ELIZABETH, NJ 07201 |
Phone: | (908) 558-6124 |
Fax: | (908) 558-6482 |
Website: | https://www.seaportfcu.org |
Branches: | 3 branch locations |
Members: | 5,481 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 19185 |
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Membership Type: | Multiple common bond - Primarily transportation |
Corporate Credit Union: | No |
Year Opened: | 1969 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $87,775,138 |
CEO/Manager: | Elaine Thompson |
Chairperson: | Vincent Marino |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,631,825 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 16,152,186 |
Unsecured Loans | 6,998,902 |
Other Loans | 24,601,511 |
TOTAL LOANS | 47,752,599 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -176,674 |
Land And Building | 0 |
Other Fixed Assets | 137,169 |
NCUSIF Deposit | 725,104 |
All Other Assets | 0 |
TOTAL ASSETS | 87,775,138 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 559,124 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,956,290 |
Regular shares | 44,665,438 |
All Other Shares & Deposits | 24,157,170 |
TOTAL SHARES & DEPOSITS | 76,778,901 |
TOTAL LIABILITIES | 77,338,025 |
Regular Reserve | 0 |
Other Reserves | -2,301,995 |
Undivided Earnings | 12,739,108 |
TOTAL EQUITY | 10,437,113 |
TOTAL LIABILITIES, SHARES, & EQUITY | 87,775,138 |
INCOME & EXPENSE | |
Loan Income | 2,673,876 |
Investment Income | 774,442 |
Other Income | 387,342 |
Total Employee Compensation & Benefits | 2,274,870 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,758,667 |
Non-operating Income & (Expense) | 266,624 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 102,500 |
Cost of Funds | 667,432 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -123,661 |
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