Dec, 31, 2023 — LUSO-AMERICAN CREDIT UNION is a federally insured state chartered credit union headquartered in PEABODY, MA with 3 branch locations and about $121.87 million in total assets. Opened 64 years ago in 1960, LUSO-AMERICAN CREDIT UNION has about 8,875 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LUSO-AMERICAN CREDIT UNION |
---|---|
Address: (Main Office) | 37 Tremont St PEABODY, MA 01960 |
Phone: | (978) 531-5767 |
Fax: | (978) 531-4607 |
Website: | https://www.luso-american.com |
Branches: | 3 branch locations |
Members: | 8,875 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67890 |
---|---|
Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1960 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $121,868,639 |
CEO/Manager: | Deborah A Luciano |
Chairperson: | Sergio Costa |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 31,820,097 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 72,317,733 |
Unsecured Loans | 3,227,152 |
Other Loans | 6,591,355 |
TOTAL LOANS | 82,136,240 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -282,977 |
Land And Building | 269,375 |
Other Fixed Assets | 672,969 |
NCUSIF Deposit | 984,350 |
All Other Assets | 0 |
TOTAL ASSETS | 121,868,639 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 279 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 565,553 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 19,948,854 |
Regular shares | 53,239,439 |
All Other Shares & Deposits | 30,612,195 |
TOTAL SHARES & DEPOSITS | 103,800,489 |
TOTAL LIABILITIES | 104,366,321 |
Regular Reserve | 0 |
Other Reserves | 2,085,847 |
Undivided Earnings | 15,416,471 |
TOTAL EQUITY | 17,502,318 |
TOTAL LIABILITIES, SHARES, & EQUITY | 121,868,639 |
INCOME & EXPENSE | |
Loan Income | 3,777,298 |
Investment Income | 1,528,321 |
Other Income | 120,760 |
Total Employee Compensation & Benefits | 1,386,755 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,932,700 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 172,888 |
Cost of Funds | 505,654 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,608,470 |
↑ Back to Top |