Overview / Commentary
IRCO Community Federal Credit Union is headquartered in Phillipsburg and is the 32nd largest credit union in the state of New Jersey. It is also the 1,839th largest credit union in the nation. It was established in 1966 and as of March of 2021, it had grown to 19 employees and 8,317 members at 1 location. IRCO Community Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership in IRCO Community Federal Credit Union is open to those who live, work, worship, attend school, volunteer, or regularly conduct business in the New Jersey cities of Phillipsburg or Alpha, or the New Jersey townships of Franklin, Greenwich, Harmony, Lopatcong or Pohatcong, or the Pennsylvania counties of Lehigh and Northampton.
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Health
B+
Data as of Q1 2021
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. IRCO Community Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 17395 |
| Year Chartered | 1966 |
| Employees | 19 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.06% |
| Return on Equity - YTD | 1.04% |
| Annual Interest Income | $620.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $95.8MM$80.5MM |
| Loans | Q1 2021vs Q1 2020 | $31.2MM$36.9MM |
| Deposits | Q1 2021vs Q1 2020 | $89.6MM$74.4MM |
| Equity Capital | Q1 2021vs Q1 2020 | $5.7MM$5.9MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $270.00K$316.00K |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $80.00K$255.00K |
| Real Estate Owned | Q1 2021vs Q1 2020 | $0$0 |