REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.reveremunicipalefcu.org for more information.
Dec, 31, 2023 — REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in REVERE, MA with 2 branch locations and about $18.11 million in total assets. Opened 62 years ago in 1962, REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 2,415 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
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Address: (Main Office) | 281 BROADWAY REVERE, MA 02151 |
Phone: | (781) 286-8116 |
Fax: | (781) 284-3326 |
Website: | https://www.reveremunicipalefcu.org |
Branches: | 2 branch locations |
Members: | 2,415 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15254 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Sep 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $18,108,891 |
CEO/Manager: | John F Kingston |
Chairperson: | JOHN W SQUIBB |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,870,112 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,521,505 |
Unsecured Loans | 1,600,630 |
Other Loans | 3,835,191 |
TOTAL LOANS | 7,957,326 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,478 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 145,509 |
All Other Assets | 0 |
TOTAL ASSETS | 18,108,891 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 268,480 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 640,944 |
Regular shares | 14,844,153 |
All Other Shares & Deposits | 1,527,485 |
TOTAL SHARES & DEPOSITS | 17,012,582 |
TOTAL LIABILITIES | 17,281,062 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 827,829 |
TOTAL EQUITY | 827,829 |
TOTAL LIABILITIES, SHARES, & EQUITY | 18,108,891 |
INCOME & EXPENSE | |
Loan Income | 87,685 |
Investment Income | 5,123 |
Other Income | 7,776 |
Total Employee Compensation & Benefits | 80,644 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 609,877 |
Non-operating Income & (Expense) | 1,267 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 4 |
Cost of Funds | 3,443 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -589,444 |
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