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SEAPORT FEDERAL CREDIT UNION

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
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
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

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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