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N.J.T. Employees Credit Union

Overview
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N.J.T. Employees Credit Union is a federal credit union based in Waldwick, New Jersey. It has been opened since 1954, for 66 years.

With around $15,950,000 in assets, N.J.T. Employees Credit Union is considered to be a medium size credit union.

About
Address 7 Richard Drive
Waldwick, New Jersey 07463
Phone (201) 447-6677
CEO Louis E. Sneyers
President of the Board Gary Robinson
Services Offered
Map
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Score Card
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66 years
Years in business
Opened in 1954
Well Capitalized
Net worth classification
Source: NCUA
1,205 members
Membership type: Associational – other than faith or fraternal based
Below average number of members
1,205:1
Credit union member to staff ratio
1,205 per each FTE employee
Compared to 411:1 nationally
Less staff than other credit unions
$15,946,673
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 2 in New Jersey
Average number of branches
2.25%
Savings interest rate
Compared to 0.3% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 2 in New Jersey
Average number of branches
N.J.T. Employees Credit Union Branch Locations
Members
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1,205 members
Membership type: Associational – other than faith or fraternal based
Below average number of members

With 1,205 members, the N.J.T. Employees Credit Union is considered to be a small credit union. It is smaller than 77% of credit unions.

Fees
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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 N.J.T. Employees Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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1,205:1
Credit union member to staff ratio
1,205 per each FTE employee
Compared to 411:1 nationally
Less staff than other credit unions
1 staff members
FTE (full-time equivalent)
100% of employees are part-time
0 full-time, 2 part-time

N.J.T. Employees Credit Union has 0 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of part-time staff, at approximately 100% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. N.J.T. Employees Credit Union has around 1,205 members per staff, a high ratio compared to other credit unions.

Assets
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$15,946,673
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.
9.4%
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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$6,492
Average loan and lease size
Loan & lease sizes are very small. They are smaller than at 82% of credit unions.

N.J.T. Employees Credit Union holds a total of $3,730,000 in loans and leases, which is about $6,492 per member on average.

Savings interest rate
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2.25%
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. N.J.T. Employees Credit Union pays 2.25%.

Loan rates
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12.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.00%
New car loan rate
Compared to 4.0% nationally
4.00%
Used car loan rate
Compared to 5.2% nationally
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