Dec, 31, 2023 — TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION is a federal credit union headquartered in TORRINGTON, CT with 3 branch locations and about $75.18 million in total assets. Opened 64 years ago in 1960, TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION has about 10,414 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: | TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 777 E Main St TORRINGTON, CT 06790-3915 |
| Phone: | (860) 489-2212 |
| Fax: | (860) 496-7024 |
| Website: | https://tmtfcu.org |
| Branches: | 3 branch locations |
| Members: | 10,414 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14003 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Jul 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $75,175,655 |
| CEO/Manager: | Donna Marie A Battistoni |
| Chairperson: | Joseph Manes |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,303,386 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,571,257 |
| Unsecured Loans | 3,258,201 |
| Other Loans | 21,136,016 |
| TOTAL LOANS | 31,965,476 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -133,488 |
| Land And Building | 788,922 |
| Other Fixed Assets | 107,738 |
| NCUSIF Deposit | 693,731 |
| All Other Assets | 0 |
| TOTAL ASSETS | 75,175,655 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -180,383 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,452,671 |
| Regular shares | 28,097,214 |
| All Other Shares & Deposits | 29,012,580 |
| TOTAL SHARES & DEPOSITS | 68,562,465 |
| TOTAL LIABILITIES | 68,382,082 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,793,573 |
| TOTAL EQUITY | 6,793,573 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 75,175,655 |
| INCOME & EXPENSE | |
| Loan Income | 1,852,236 |
| Investment Income | 880,089 |
| Other Income | 441,503 |
| Total Employee Compensation & Benefits | 1,146,250 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,576,595 |
| Non-operating Income & (Expense) | 532,048 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 19,405 |
| Cost of Funds | 295,113 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 741,994 |
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