Bay Atlantic Federal Credit Union: Company Profile

Background

Bay Atlantic Federal Credit Union (BAFCU) is a member-owned, not-for-profit financial institution headquartered in Vineland, New Jersey. Established in 1939 by nine employees of Kimble Glass, the credit union was originally known as Kimble Federal Credit Union. Its mission is to empower members with quality financial solutions while providing exceptional, friendly service. The vision is to be the cornerstone of financial empowerment through education, security, and service, thereby strengthening prosperity in the communities served.

Key Strategic Focus

BAFCU's strategic focus centers on delivering a comprehensive range of financial products and services to its members. This includes traditional lending and savings products, as well as electronic and mobile banking programs. The credit union emphasizes financial education and community engagement, aiming to strengthen the financial well-being of its members and the broader community.

Financials and Funding

As of June 30, 2025, BAFCU reported total assets of approximately $87.52 million, with a net capital ratio of 8.55% and a leverage ratio of 8.65%. The credit union serves over 9,120 members and employs 29 full and part-time staff. In 2024, BAFCU reported a net income of $172,000, reflecting a return on assets of 0.77%.

Pipeline Development

BAFCU offers a variety of financial products, including checking and savings accounts, credit cards, auto loans, personal loans, certificates of deposit (CDs), and money market accounts. The credit union also provides financial education resources, such as financial counseling, workshops, and student scholarships, to support the financial literacy and well-being of its members.

Technological Platform and Innovation

BAFCU utilizes electronic and mobile banking platforms to provide members with convenient access to their accounts and financial services. The credit union participates in the Co-Op Shared Branch Network, allowing members to perform basic transactions at over 5,600 locations nationwide. Additionally, BAFCU offers a mobile app with features like CardSpotlight for managing debit and credit cards, enhancing the digital banking experience for its members.

Leadership Team

Gail R. Marino: Chief Executive Officer and President.

David P. Schad: Chairperson.

Ava Wargo: Chief Financial Officer.

Mary Gravino: Executive Vice President.

Duffield Janet: Vice President of Lending.

Laura Richard: Collection Manager.

These leaders bring a wealth of experience and dedication to the credit union, guiding its operations and strategic initiatives.

Competitor Profile

Market Insights and Dynamics

The credit union operates in a competitive financial services market, focusing on providing personalized and community-oriented banking solutions. The industry is characterized by a shift towards digital banking, with institutions investing in technology to enhance member experience and operational efficiency.

Competitor Analysis

Key competitors in the region include:

Affinity Federal Credit Union: Based in Basking Ridge, NJ, offering a range of financial products and services.

Merck Employees Federal Credit Union: Located in Rahway, NJ, serving employees and members with various financial solutions.

Financial Resources Federal Credit Union: Operating in Branchburg, NJ, providing financial services to its members.

Proponent Federal Credit Union: Based in Nutley, NJ, offering financial products and services to its members.

Members 1st of NJ Federal Credit Union: Located in Vineland, NJ, serving members with a variety of financial solutions.

These institutions offer similar services and compete for the same member base in the region.

Strategic Collaborations and Partnerships

BAFCU collaborates with various community organizations and businesses to enhance its service offerings and community engagement. The credit union partners with community organizations such as Big Brothers Big Sisters of Cumberland and Salem Counties and CU Maurice River to support local initiatives and provide additional benefits to its members.

Operational Insights

BAFCU differentiates itself through its strong community focus, personalized member service, and commitment to financial education. The credit union's participation in the Co-Op Shared Branch Network and its mobile banking capabilities provide members with convenient access to their accounts and financial services, enhancing its competitive position.

Strategic Opportunities and Future Directions

BAFCU is well-positioned to leverage its community ties and member-centric approach to expand its membership base and service offerings. By continuing to invest in digital banking technologies and financial education programs, the credit union can enhance member engagement and attract new members seeking personalized financial solutions.