Dec, 31, 2023 — MORTON FEDERAL CREDIT UNION is a federal credit union headquartered in TAUNTON, MA with 1 branch location and about $9.91 million in total assets. Opened 46 years ago in 1978, MORTON FEDERAL CREDIT UNION has about 1,044 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MORTON FEDERAL CREDIT UNION |
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Address: (Main Office) | 88 washington st TAUNTON, MA 02780-2465 |
Phone: | (508) 828-7036 |
Fax: | (508) 880-0448 |
Website: | https://mortonfedcu.com |
Branches: | 1 branch locations |
Members: | 1,044 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24511 |
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Membership Type: | Multiple common bond - Primarily health care |
Corporate Credit Union: | No |
Year Opened: | 1978 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $9,911,049 |
CEO/Manager: | cristen galuski |
Chairperson: | gary grace |
ASSETS: | $ Amount |
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Cash & Equivalents | 729,402 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,952,810 |
Unsecured Loans | 631,324 |
Other Loans | 1,693,329 |
TOTAL LOANS | 4,277,462 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,147 |
Land And Building | 0 |
Other Fixed Assets | 189 |
NCUSIF Deposit | 88,031 |
All Other Assets | 0 |
TOTAL ASSETS | 9,911,049 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,366 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 8,645 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 861,340 |
Regular shares | 5,619,648 |
All Other Shares & Deposits | 2,512,584 |
TOTAL SHARES & DEPOSITS | 8,993,573 |
TOTAL LIABILITIES | 9,005,584 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 905,465 |
TOTAL EQUITY | 905,465 |
TOTAL LIABILITIES, SHARES, & EQUITY | 9,911,049 |
INCOME & EXPENSE | |
Loan Income | 209,189 |
Investment Income | 131,616 |
Other Income | 29,511 |
Total Employee Compensation & Benefits | 107,159 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 158,836 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,646 |
Cost of Funds | 16,640 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 76,285 |
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