North Jersey Credit Union
North Jersey Credit Union is headquartered in Totowa and is the 13st 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 December of 2013, it had grown to 60 employees and 31,822 members. North Jersey Credit Union has a B health rating.
Data for Q4 2013
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 North Jersey Credit Union had $3.77 million in non-current loans and owned real-estate with $22.96 million in equity and loan loss allowances on hand to cover it. This gives North Jersey Credit Union a Texas Ratio of 16.41% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for North Jersey Credit Union experienced no significant changes from 16.82% as of December 31, 2012 to 16.41% as of December 31, 2013, resulting in a positive change of 2.45%.This indicates that the balance sheet and financial strength for North Jersey Credit Union has had no significant changes in recent periods.
Deposit Growth
In the past year, North Jersey Credit Union has decreased its total deposits by -$2.33 million, resulting in -1.22% 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
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 $212.99 million in assets with $22.96 million in equity, resulting in a capitalization level of 10.78%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 1015 |
| Year Chartered | 1936 |
| Employees | 60 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $212.99 million |
| Loans | $95.84 million |
| Deposits | $188.47 million |
| Equity Capital | $21.27 million |
| Loan Loss Allowance | $1.69 million |
| Unbacked Noncurrent Loans | $3.44 million |
| Real Estate Owned | $323,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $214.62 million |
| Equity Capital | $21.45 million |
| Loan Loss Allowance | $1.26 million |
| Unbacked Noncurrent Loans | $3.44 million |
| Real Estate Owned | $400,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.98% |
| Return on Assets | 0.05% |
| Return on Equity | 0.5% |
| Interest Income | $7.12 million |
Sorry, we do not have rate data for North Jersey Credit Union
| North Jersey Credit Union Locations | ||
|---|---|---|
| Branch Office | 126 Market St | Paterson, NJ 07505 |
| Branch Office | 711 Union Blvd | Totowa, NJ 07512-2207 |
| Branch Office | 61 Morris Ave | Garfield, NJ 07026 |
| Branch Office | 588 Martin Luther King Jr Blvd | Newark, NJ 07102 |
| Branch Office | 30 Bergen St 1102 Administrative Complex | Newark, NJ 07107-3000 |