Dec, 31, 2023 — LYNN POLICE CREDIT UNION is a federally insured state chartered credit union headquartered in LYNN, MA with 2 branch locations and about $10.71 million in total assets. Opened 79 years ago in 1945, LYNN POLICE CREDIT UNION has about 1,006 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LYNN POLICE CREDIT UNION |
|---|---|
| Address: (Main Office) | 300 Washington St LYNN, MA 01902 |
| Phone: | (781) 477-4352 |
| Fax: | (781) 593-4051 |
| Website: | n/a |
| Branches: | 2 branch locations |
| Members: | 1,006 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67840 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1945 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,712,892 |
| CEO/Manager: | Kevin F Coppinger |
| Chairperson: | Richard Carrow |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 124,448 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,355,536 |
| Unsecured Loans | 589,480 |
| Other Loans | 2,613,969 |
| TOTAL LOANS | 4,558,986 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -147,545 |
| Land And Building | 0 |
| Other Fixed Assets | 1,052 |
| NCUSIF Deposit | 87,224 |
| All Other Assets | 0 |
| TOTAL ASSETS | 10,712,892 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,030 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,992,569 |
| All Other Shares & Deposits | 2,930,444 |
| TOTAL SHARES & DEPOSITS | 7,923,013 |
| TOTAL LIABILITIES | 7,930,043 |
| Regular Reserve | 0 |
| Other Reserves | 67,157 |
| Undivided Earnings | 2,715,692 |
| TOTAL EQUITY | 2,782,849 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,712,892 |
| INCOME & EXPENSE | |
| Loan Income | 161,440 |
| Investment Income | 119,677 |
| Other Income | 0 |
| Total Employee Compensation & Benefits | 108,948 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 104,819 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,000 |
| Cost of Funds | 31,311 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 16,039 |
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