Dec, 31, 2023 — NET FEDERAL CREDIT UNION is a federal credit union headquartered in SCRANTON, PA with 3 branch locations and about $274.52 million in total assets. Opened 83 years ago in 1941, NET FEDERAL CREDIT UNION has about 18,170 members and employs 60 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NET FEDERAL CREDIT UNION |
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Address: (Main Office) | 119 Mulberry St SCRANTON, PA 18503 |
Phone: | (570) 961-5300 |
Fax: | |
Website: | https://netcreditunion.com |
Branches: | 3 branch locations |
Members: | 18,170 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4792 |
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Membership Type: | Multiple common bond - Primarily communications and utilities |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $274,517,472 |
CEO/Manager: | Clarence Baltrusaitis |
Chairperson: | Don Bailey |
ASSETS: | $ Amount |
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Cash & Equivalents | 16,959,835 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 70,102,890 |
Unsecured Loans | 16,927,317 |
Other Loans | 53,151,025 |
TOTAL LOANS | 140,181,231 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,706,860 |
Land And Building | 10,822,008 |
Other Fixed Assets | 2,066,495 |
NCUSIF Deposit | 2,270,649 |
All Other Assets | 49,879 |
TOTAL ASSETS | 274,517,472 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,826,302 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 53,792,361 |
Regular shares | 105,930,713 |
All Other Shares & Deposits | 92,017,107 |
TOTAL SHARES & DEPOSITS | 251,740,181 |
TOTAL LIABILITIES | 253,566,483 |
Regular Reserve | 0 |
Other Reserves | -12,733,165 |
Undivided Earnings | 33,684,154 |
TOTAL EQUITY | 20,950,989 |
TOTAL LIABILITIES, SHARES, & EQUITY | 274,517,472 |
INCOME & EXPENSE | |
Loan Income | 7,994,089 |
Investment Income | 2,111,807 |
Other Income | 1,905,517 |
Total Employee Compensation & Benefits | 4,650,066 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,602,608 |
Non-operating Income & (Expense) | -7,746 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 510,614 |
Cost of Funds | 2,511,542 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 519,561 |
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