Ocnac No 1 Federal Credit Union (5987), a $7.1M credit union headquartered in Jersey City, NJ, led by CEO Gamba, reported $1.7M in outstanding loans at the end of 2025 Q3, a decrease of $164K (-8.7%) compared to the same quarter last year.
The credit union's 27.6% loan-to-share ratio reflects a conservative lending posture with ample liquidity for future loan growth. With 604 loans outstanding to 2,174 members, the average loan balance stands at $3K.
Net effect: low loan-to-share ratio signals untapped lending capacity.
Portfolio Composition
Ocnac No 1 Federal Credit Union's loan portfolio is dominated by Other Unsecured, comprising 79.4% of total loans. This diversified approach balances risk across multiple loan categories.
Loan Portfolio Breakdown
| Loan Type | Balance | % of Portfolio |
|---|---|---|
| Other Unsecured | $1.4M | 79.4% |
| Used Vehicles | $172K | 10.0% |
| New Vehicles | $170K | 9.9% |
Source: NCUA 5300 Call Reports (2025_Q3)
Quarterly Loan Trends
Loan portfolio contraction may reflect paydowns outpacing originations, tightened underwriting, or competitive pressure from fintech and bank lenders.
Quarterly Trend
| Period | Total Loans | QoQ Change | Loan/Share |
|---|---|---|---|
| 2024 Q2 | $1.8M | 30.2% | |
| 2024 Q3 | $1.9M | +2.0% | 31.1% |
| 2024 Q4 | $1.9M | +0.4% | 31.9% |
| 2025 Q1 | $1.7M | -7.3% | 29.3% |
| 2025 Q2 | $1.7M | -0.3% | 28.7% |
| 2025 Q3 | $1.7M | -1.7% | 27.6% |
Source: NCUA 5300 Call Reports
Credit Quality & Risk
Ocnac No 1 Federal Credit Union reports $50K in loans delinquent 60+ days, representing a 2.93% delinquency rate. This elevated delinquency warrants close monitoring of underwriting standards and collection practices.
Year-to-date net charge-offs of $27K represent a 1.60% annualized loss rate. Charge-off trends should be monitored as economic conditions evolve.
Historical Context: Since the 2008 Crisis
Ocnac No 1 Federal Credit Union's loan portfolio has contracted 30% since Q3 2008, when the financial crisis was at its peak. At that time, the credit union held $2.5M in loans with a 2.60% delinquency rate.
Today's delinquency rate of 2.93% exceeds crisis-era levels, signaling potential stress in the current lending environment.
Peer Comparison
Among 565 credit unions in its $3.6M–$10.7M asset peer group, Ocnac No 1 Federal Credit Union ranks in the 32nd percentile for loan growth.
Outlook
Ocnac No 1 Federal Credit Union's loan portfolio trajectory will depend on economic conditions, interest rate movements, and the credit union's ability to compete with banks and fintech lenders for consumer and auto loans.
Ocnac No 1 Federal Credit Union's Q4 2025 results, expected in early 2026, will provide further insight into whether the credit union can reverse the contraction trend.
Track This Credit Union
Monitor Ocnac No 1 Federal Credit Union's quarterly loan performance, credit quality metrics, and portfolio composition with Finleet Terminal.
Data Sources: NCUA 5300 Call Reports (2025_Q3), NCUA Historical Data (2007-present), Finleet Proprietary Analysis
Methodology: Year-over-year growth calculated comparing 2025_Q3 to same quarter prior year. Peer groups defined as credit unions within 50% asset range. Delinquency rate calculated as loans 60+ days past due divided by total loans. Crisis comparison uses Q3 2008 as baseline.