Dec, 31, 2023 — MEMBERSFIRST CT FEDERAL CREDIT UNION is a federal credit union headquartered in MERIDEN, CT with 4 branch locations and about $101.30 million in total assets. Opened 88 years ago in 1936, MEMBERSFIRST CT FEDERAL CREDIT UNION has about 6,161 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERSFIRST CT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 285 Broad St MERIDEN, CT 06450-5847 |
| Phone: | (203) 237-6424 |
| Fax: | (203) 237-6166 |
| Website: | https://membersfirstctfcu.com |
| Branches: | 4 branch locations |
| Members: | 6,161 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1049 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $101,302,306 |
| CEO/Manager: | Edward M Hogan |
| Chairperson: | James Suzio |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,244,403 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 25,319,882 |
| Unsecured Loans | 5,208,330 |
| Other Loans | 10,561,058 |
| TOTAL LOANS | 41,089,268 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -311,000 |
| Land And Building | 231,119 |
| Other Fixed Assets | 25,878 |
| NCUSIF Deposit | 903,308 |
| All Other Assets | 0 |
| TOTAL ASSETS | 101,302,306 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 109,354 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 16,233,893 |
| Regular shares | 33,986,606 |
| All Other Shares & Deposits | 40,178,560 |
| TOTAL SHARES & DEPOSITS | 90,399,060 |
| TOTAL LIABILITIES | 90,508,414 |
| Regular Reserve | 0 |
| Other Reserves | 2,359,232 |
| Undivided Earnings | 8,434,660 |
| TOTAL EQUITY | 10,793,892 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 101,302,306 |
| INCOME & EXPENSE | |
| Loan Income | 1,736,217 |
| Investment Income | 1,374,748 |
| Other Income | 317,084 |
| Total Employee Compensation & Benefits | 1,136,155 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,195,316 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 74,810 |
| Cost of Funds | 714,031 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 533,736 |
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