Dec, 31, 2023 — NAVEO CREDIT UNION is a federally insured state chartered credit union headquartered in SOMERVILLE, MA with 3 branch locations and about $170.31 million in total assets. Opened 96 years ago in 1928, NAVEO CREDIT UNION has about 7,025 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NAVEO CREDIT UNION |
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Address: (Main Office) | 493 Somerville Ave SOMERVILLE, MA 02143 |
Phone: | (617) 547-3144 |
Fax: | (617) 547-3451 |
Website: | https://www.naveo.org |
Branches: | 3 branch locations |
Members: | 7,025 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68046 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1928 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $170,305,613 |
CEO/Manager: | Andrea White |
Chairperson: | Leontina Mancini |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,159,863 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 98,239,859 |
Unsecured Loans | 8,023,688 |
Other Loans | 2,206,946 |
TOTAL LOANS | 108,470,494 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -694,537 |
Land And Building | 1,287,955 |
Other Fixed Assets | 252,919 |
NCUSIF Deposit | 1,487,761 |
All Other Assets | 0 |
TOTAL ASSETS | 170,305,613 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 7,425 |
Notes & Interest Payable | 2,371,565 |
Accounts Payable & Other Liabilities | 529,778 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 37,263,649 |
Regular shares | 79,306,570 |
All Other Shares & Deposits | 43,376,846 |
TOTAL SHARES & DEPOSITS | 159,947,065 |
TOTAL LIABILITIES | 162,855,833 |
Regular Reserve | 0 |
Other Reserves | -4,671,021 |
Undivided Earnings | 12,120,801 |
TOTAL EQUITY | 7,449,780 |
TOTAL LIABILITIES, SHARES, & EQUITY | 170,305,613 |
INCOME & EXPENSE | |
Loan Income | 4,963,125 |
Investment Income | 1,115,622 |
Other Income | 648,398 |
Total Employee Compensation & Benefits | 3,151,376 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,238,491 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 330,298 |
Cost of Funds | 994,885 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 94,582 |
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