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800-454-7206
1 Corporate Dr
Wayne, NJ 07470

First Jersey Credit Union is headquartered in Wayne and is the 20th largest credit union in the state of New Jersey. It is also the 1,153rd largest credit union in the nation. It was established in 1929 and as of March of 2014, it had grown to 29 employees and 12,044 members. First Jersey Credit Union has a B+ health rating.

Field of Membership Restrictions

Anyone who lives, works, worships or attends school in Passaic County is eligible for membership, as well as family members of current members! - See Details

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Jersey Credit Union had $1.28 million in non-current loans and owned real-estate with $14.89 million in equity and loan loss allowances on hand to cover it. This gives First Jersey Credit Union a Texas Ratio of 8.63% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for First Jersey Credit Union experienced no significant changes from 6.84% as of March 31, 2013 to 8.63% as of March 31, 2014, resulting in a negative change of 26.19%. This indicates that the balance sheet and financial strength for First Jersey Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, First Jersey Credit Union has increased its total deposits by $5.11 million, resulting in 3.98% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Jersey Credit Union has shown is excellent.

Capitalization

GRADE:
B

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Jersey Credit Union has $149.88 million in assets with $14.89 million in equity, resulting in a capitalization level of 9.93%, which is above average.

Institution Statistics

Overall
NCUA #62750
Year Chartered1929
Employees29
Primary Regulator
Assets and Liabilities
Assets$149.88 million
Loans$103.64 million
Deposits$133.57 million
Equity Capital$14.13 million
Loan Loss Allowance$763,000
Unbacked Noncurrent Loans$1.29 million
Real Estate Owned$0
Historic Data - March 2013
Assets$144.36 million
Equity Capital$14.82 million
Loan Loss Allowance$624,000
Unbacked Noncurrent Loans$1.29 million
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets-0.44%
Return on Equity-4.64%
Interest Income$1.70 million
Rates
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First Jersey Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$100k-Super Saver
0.35%$2k-IRA Shares
0.25%--Regular Shares
0.25%--Mighty Savers Kids' Account
0.25%--Holiday Club
0.25%--Vacation Club
0.25%--New Baby Account

First Jersey Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.00%-$10kBonus Checking - Qualifying
0.10%--Freedom Checking

First Jersey Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.66%$1k-5 Year CD
1.16%$1k-3 Year CD
1.00%$1k-2 Year CD
0.50%$1k-6 Month CD
0.50%$1k-1 Year CD

First Jersey Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.66%$1k-5 Year IRA
1.16%$1k-3 Year IRA
1.00%$1k-2 Year IRA
0.50%$1k-6 Month IRA
0.50%$1k-1 Year IRA
Locations


First Jersey Credit Union Locations
Branch Office245 Diamond Bridge AveHawthorne, NJ 07506
Branch Office1 Corporate DrWayne, NJ 07470