Dec, 31, 2023 — ALDEN CREDIT UNION is a federally insured state chartered credit union headquartered in CHICOPEE, MA with 2 branch locations and about $200.41 million in total assets. Opened 85 years ago in 1939, ALDEN CREDIT UNION has about 13,852 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ALDEN CREDIT UNION |
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Address: (Main Office) | 710 Grattan St CHICOPEE, MA 01020-1255 |
Phone: | (413) 536-0475 |
Fax: | (413) 536-0986 |
Website: | https://www.aldencu.com |
Branches: | 2 branch locations |
Members: | 13,852 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67951 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1939 |
Last Audited: | Jun 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $200,407,801 |
CEO/Manager: | Adam Corcoran |
Chairperson: | Marc Dugre |
ASSETS: | $ Amount |
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Cash & Equivalents | 11,976,523 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 118,561,947 |
Unsecured Loans | 494,741 |
Other Loans | 27,401,048 |
TOTAL LOANS | 146,457,737 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -814,315 |
Land And Building | 8,709,415 |
Other Fixed Assets | 467,855 |
NCUSIF Deposit | 1,421,213 |
All Other Assets | 0 |
TOTAL ASSETS | 200,407,801 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 14,099 |
Notes & Interest Payable | 26,000,000 |
Accounts Payable & Other Liabilities | 3,044,399 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 36,524,719 |
Regular shares | 42,486,882 |
All Other Shares & Deposits | 81,021,945 |
TOTAL SHARES & DEPOSITS | 160,033,546 |
TOTAL LIABILITIES | 189,092,044 |
Regular Reserve | 0 |
Other Reserves | -4,892,384 |
Undivided Earnings | 16,208,141 |
TOTAL EQUITY | 11,315,757 |
TOTAL LIABILITIES, SHARES, & EQUITY | 200,407,801 |
INCOME & EXPENSE | |
Loan Income | 5,598,554 |
Investment Income | 814,843 |
Other Income | 1,339,803 |
Total Employee Compensation & Benefits | 1,974,763 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,621,626 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 50,000 |
Cost of Funds | 3,222,488 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 395,442 |
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