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Israel Memorial A M E Credit Union

Overview
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Israel Memorial A M E Credit Union is a federal credit union based in Newark, New Jersey. It has been opened since 1956, for 64 years.

With around $380,000 in assets, Israel Memorial A M E Credit Union is considered to be a small credit union.

About
Address 54 Lincoln Street
Newark, New Jersey 07108
Phone (973) 643-1333
Fax (973) 643-9559
CEO Vernon C. Webb
President of the Board Laverne Merritt
Services Offered
Map
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Score Card
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64 years
Years in business
Opened in 1956
Well Capitalized
Net worth classification
Source: NCUA
178 members
Membership type: Associational – faith based
Below average number of members
$383,410
Total assets
Below average
0 branches
Compared with an average of 4 nationally and 2 in New Jersey
Average number of branches
0.50%
Savings interest rate
Compared to 0.3% nationally
Branches
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0 branches
Compared with an average of 4 nationally and 2 in New Jersey
Average number of branches
Israel Memorial A M E Credit Union Branch Locations
Members
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178 members
Membership type: Associational – faith based
Below average number of members

With 178 members, the Israel Memorial A M E Credit Union is considered to be a very small credit union. It is among the smallest credit unions and is smaller than 98% of credit unions.

Fees
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$13
Average fee per member
The average fee per member at the Israel Memorial A M E Credit Union is $13, which is low compared to most credit unions. This rate is lower than 79% of all credit unions.
Fees are lower than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Israel Memorial A M E Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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0 staff members
FTE (full-time equivalent)
0% of employees are part-time
0 full-time, 0 part-time

Israel Memorial A M E Credit Union has no employees.

Assets
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$383,410
Total assets
Below average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
41.5%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$9,843
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 48% of credit unions.

Israel Memorial A M E Credit Union holds a total of $170,000 in loans and leases, which is about $9,843 per member on average.

Savings interest rate
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0.50%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Israel Memorial A M E Credit Union pays 0.50%.

Loan rates
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7.56%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
7.56%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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7.56%
New car loan rate
Compared to 4.0% nationally
7.56%
Used car loan rate
Compared to 5.2% nationally
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