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Overview / Commentary
711 Union Blvd
Totowa, NJ 07512-2207

North Jersey Credit Union is headquartered in Totowa and is the 12st largest credit union in the state of New Jersey. It is also the 876th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 58 employees and 31,903 members. North Jersey Credit Union has a B health rating.

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Health

Data for Q1 2014

Institution Health

B

Texas Ratio

GRADE:
B

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 North Jersey Credit Union had $3.61 million in non-current loans and owned real-estate with $23.01 million in equity and loan loss allowances on hand to cover it. This gives North Jersey Credit Union a Texas Ratio of 15.70% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for North Jersey Credit Union experienced no significant changes from 16.43% as of March 31, 2013 to 15.70% as of March 31, 2014, resulting in a positive change of 4.44%.This indicates that the balance sheet and financial strength for North Jersey Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, North Jersey Credit Union has decreased its total deposits by -$1.88 million, resulting in -0.96% 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 North Jersey Credit Union has shown is average.

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. North Jersey Credit Union has $219.54 million in assets with $23.01 million in equity, resulting in a capitalization level of 10.48%, which is above average.

Institution Statistics

Overall
NCUA #1015
Year Chartered1936
Employees58
Primary Regulator
Assets and Liabilities
Assets$219.54 million
Loans$93.60 million
Deposits$195.09 million
Equity Capital$21.41 million
Loan Loss Allowance$1.60 million
Unbacked Noncurrent Loans$3.29 million
Real Estate Owned$323,000
Historic Data - March 2013
Assets$221.70 million
Equity Capital$21.51 million
Loan Loss Allowance$1.22 million
Unbacked Noncurrent Loans$3.29 million
Real Estate Owned$602,000
Profit Margin - Quarterly
Return on Assets-0.01%
Return on Equity-0.13%
Interest Income$1.74 million
Rates

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Locations


North Jersey Credit Union Locations
Branch Office126 Market StPaterson, NJ 07505
Branch Office711 Union BlvdTotowa, NJ 07512-2207
Branch Office61 Morris AveGarfield, NJ 07026
Branch Office588 Martin Luther King Jr BlvdNewark, NJ 07102
Branch Office30 Bergen St 1102 Administrative ComplexNewark, NJ 07107-3000