South Jersey Federal Credit Union is headquartered in Deptford and is the 7th largest credit union in the state of New Jersey. It is also the 659th largest credit union in the nation. It was established in 1940 and as of December of 2013, it had grown to 104 employees and 44,766 members. South Jersey Federal Credit Union's savings rates are 73% higher than the national average, and it has a B+ health rating.
Membership is open to anyone who lives, works, worships or attends school in any of the following New Jersey communities: Atlantic City, Bridgeton, Camden, Millville, Pleasantville, Salem and Vineland. You can also be eligible via select employers or via family. Please see the credit union's eligibility page for more details. - See Details
I just received my quarterly statement from South Jersey FCU. To my surprise I have given them $15.00 or $5 for the prior 3 months. Tomorrow I go to close the account. It is hard to believe that it costs $5 a month for a computer to keep track of someone's money especially when there is not any activity occurring on it. I am sure SJFCU is hurting for that substantial amount of money, but to me it is equivalent to thievery. I never received any statement indicating that I was in jeopardy of having my money stolen from me or else I would have gone and closed the account thus thereby saving them them the postage and the sheet of paper showing my new activity of taking the FEES. I will never suggest or give any positive comments about SJFCU to any fellow employee!! Funny thing is, in my statement there is an add from Sprint with the tagline "Why throw away your money?" They must have read my mind.
I open a savings account at my local (pleasantville) branch. it seemed like a good idea at the time. no min balance due, no monthly fees, earn a tiny % of intrest. what more can you ask for. well I guess customer service would be one of them. They lack customer service. you have to greet them and they still dont greet you, upon leaving I always say thank you to not get any response. I rather pay a 2.99 monthly convience fee at my local TD branch then to invest my money into south jersey federal credit union to be treated like a inconvience to them.
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 South Jersey Federal Credit Union had $3.45 million in non-current loans and owned real-estate with $30.57 million in equity and loan loss allowances on hand to cover it. This gives South Jersey Federal Credit Union a Texas Ratio of 11.28% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for South Jersey Federal Credit Union decreased slightly from 14.22% as of December 31, 2012 to 11.28% as of December 31, 2013, resulting in a positive change of 20.70%.This indicates that the balance sheet and financial strength for South Jersey Federal Credit Union has improved slightly in recent periods.
In the past year, South Jersey Federal Credit Union has decreased its total deposits by $-788,000, resulting in -0.27% 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 South Jersey Federal Credit Union has shown is average.
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. South Jersey Federal Credit Union has $315.22 million in assets with $30.57 million in equity, resulting in a capitalization level of 9.70%, which is above average.
|Assets and Liabilities|
|Equity Capital||$28.11 million|
|Loan Loss Allowance||$2.46 million|
|Unbacked Noncurrent Loans||$3.02 million|
|Real Estate Owned||$427,000|
|Historic Data - December 2012|
|Equity Capital||$25.32 million|
|Loan Loss Allowance||$3.07 million|
|Unbacked Noncurrent Loans||$3.02 million|
|Real Estate Owned||$596,000|
|Profit Margin - Quarterly|
|Net Interest Margin||5.91%|
|Return on Assets||0.74%|
|Return on Equity||8.24%|
|Interest Income||$10.05 million|
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|0.90%||$50k||-||Roth IRA Savings|
|0.45%||$100k||-||MEGA Money Market|
|0.25%||$25k||-||SUPER Money Market|
|1.51%||$1k||-||4 Year CD|
|1.51%||$1k||-||5 Year CD|
|1.26%||$1k||-||18 Month CD Special|
|1.10%||$1k||-||3 Year CD|
|1.00%||$1k||-||2 Year CD|
|0.35%||$1k||-||1 Year CD|
|1.51%||$1k||-||4 Year IRA (Traditional,Roth,CESA)|
|1.51%||$1k||-||5 Year IRA (Traditional,Roth,CESA)|
|1.26%||$1k||-||18 Month IRA Special (Traditional,Roth,CESA)|
|1.10%||$1k||-||3 Year IRA (Traditional,Roth,CESA)|
|1.00%||$1k||-||2 Year IRA (Traditional,Roth,CESA)|
|0.35%||$1k||-||1 Year IRA (Traditional,Roth,CESA)|
|South Jersey Federal Credit Union Locations|
|Branch Office||1615 Hurffville Rd PO Box 5530||Deptford, NJ 08096|
|Branch Office||15 W WEST JERSEY AVE||Pleasantville, NJ 08232|
|Branch Office||700 Haddonfield Berlin Rd Eagle Plaza||Voorhees, NJ 08043-4305|
|Branch Office||Woodbridge Development Center 1275 Rahway Ave||Avenel, NJ 07001|
|Branch Office||1201 N Church St||Moorestown, NJ 08057|
|Branch Office||1615 Hurffville Road||Deptford, NJ 08096|
|Branch Office||423 Market St||Camden, NJ 08102-1525|
|Branch Office||106 W Landis Ave||Vineland, NJ 08360|