Dec, 31, 2023 — ALPHA CREDIT UNION is a federally insured state chartered credit union headquartered in BOSTON, MA with 2 branch locations and about $36.82 million in total assets. Opened 82 years ago in 1942, ALPHA CREDIT UNION has about 4,091 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ALPHA CREDIT UNION |
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Address: (Main Office) | 1 Deaconess Rd BOSTON, MA 02215 |
Phone: | (617) 632-8164 |
Fax: | (617) 632-8204 |
Website: | https://www.alphacu.com |
Branches: | 2 branch locations |
Members: | 4,091 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67872 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1942 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $36,821,434 |
CEO/Manager: | Joette DeMeo |
Chairperson: | Kristine M Hanscom |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,096,692 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,386,753 |
Unsecured Loans | 2,569,400 |
Other Loans | 8,750,583 |
TOTAL LOANS | 18,706,737 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -106,343 |
Land And Building | 0 |
Other Fixed Assets | 63,818 |
NCUSIF Deposit | 332,844 |
All Other Assets | 0 |
TOTAL ASSETS | 36,821,434 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 146,499 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,953,414 |
Regular shares | 27,057,424 |
All Other Shares & Deposits | 2,472,407 |
TOTAL SHARES & DEPOSITS | 31,483,246 |
TOTAL LIABILITIES | 31,629,745 |
Regular Reserve | 0 |
Other Reserves | 505,000 |
Undivided Earnings | 4,686,689 |
TOTAL EQUITY | 5,191,689 |
TOTAL LIABILITIES, SHARES, & EQUITY | 36,821,434 |
INCOME & EXPENSE | |
Loan Income | 790,146 |
Investment Income | 495,262 |
Other Income | 187,783 |
Total Employee Compensation & Benefits | 544,234 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 456,739 |
Non-operating Income & (Expense) | 71,183 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 98,959 |
Cost of Funds | 30,261 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 414,181 |
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