Dec, 31, 2023 — NORTHEASTERN OPERATING ENGINEERS FEDERAL CREDIT UNION is a federal credit union headquartered in WHITESTONE, NY with 2 branch locations and about $76.25 million in total assets. Opened 50 years ago in 1974, NORTHEASTERN OPERATING ENGINEERS FEDERAL CREDIT UNION has about 2,227 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHEASTERN OPERATING ENGINEERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1616 Whitestone Expy WHITESTONE, NY 11357 |
| Phone: | (718) 847-8484 |
| Fax: | (718) 847-2525 |
| Website: | https://www.noefcuny.org |
| Branches: | 2 branch locations |
| Members: | 2,227 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21630 |
|---|---|
| Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $76,247,937 |
| CEO/Manager: | TIMOTHY J FAUGHNAN |
| Chairperson: | BRIAN J MULLINS |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,858,805 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 62,308,802 |
| Unsecured Loans | 2,112,692 |
| Other Loans | 408,172 |
| TOTAL LOANS | 64,829,666 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -293,499 |
| Land And Building | 0 |
| Other Fixed Assets | 2,511,686 |
| NCUSIF Deposit | 208,338 |
| All Other Assets | 291,079 |
| TOTAL ASSETS | 76,247,937 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,841,550 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 42,390,669 |
| Regular shares | 16,246,366 |
| All Other Shares & Deposits | 6,245,342 |
| TOTAL SHARES & DEPOSITS | 64,882,377 |
| TOTAL LIABILITIES | 68,723,927 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 7,524,010 |
| TOTAL EQUITY | 7,524,010 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 76,247,937 |
| INCOME & EXPENSE | |
| Loan Income | 2,410,659 |
| Investment Income | 636,284 |
| Other Income | 372,733 |
| Total Employee Compensation & Benefits | 1,371,481 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,489,839 |
| Non-operating Income & (Expense) | 19,875 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 40,000 |
| Cost of Funds | 136,701 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 430,185 |
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