Dec, 31, 2023 — FIRST CITIZENS' FEDERAL CREDIT UNION is a federal credit union headquartered in FAIRHAVEN, MA with 11 branch locations and about $711.73 million in total assets. Opened 87 years ago in 1937, FIRST CITIZENS' FEDERAL CREDIT UNION has about 65,351 members and employs 147 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST CITIZENS' FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 200 Mill Rd Ste 100 FAIRHAVEN, MA 02719 |
| Phone: | (800) 642-7515 |
| Fax: | |
| Website: | https://www.firstcitizens.org |
| Branches: | 11 branch locations |
| Members: | 65,351 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24254 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $711,730,616 |
| CEO/Manager: | Christopher Howard |
| Chairperson: | Rev David Lima |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 77,886,104 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 332,125,582 |
| Unsecured Loans | 4,077,593 |
| Other Loans | 264,168,134 |
| TOTAL LOANS | 601,321,881 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,062,647 |
| Land And Building | 7,373,500 |
| Other Fixed Assets | 967,000 |
| NCUSIF Deposit | 6,042,459 |
| All Other Assets | 1,352,551 |
| TOTAL ASSETS | 711,730,616 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 21,115 |
| Notes & Interest Payable | 4,200,000 |
| Accounts Payable & Other Liabilities | 7,943,321 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 188,513,092 |
| Regular shares | 211,740,322 |
| All Other Shares & Deposits | 176,197,042 |
| TOTAL SHARES & DEPOSITS | 576,450,457 |
| TOTAL LIABILITIES | 588,624,133 |
| Regular Reserve | 0 |
| Other Reserves | 6,992,635 |
| Undivided Earnings | 116,113,848 |
| TOTAL EQUITY | 123,106,483 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 711,730,616 |
| INCOME & EXPENSE | |
| Loan Income | 27,901,102 |
| Investment Income | 3,713,071 |
| Other Income | 7,261,747 |
| Total Employee Compensation & Benefits | 10,996,544 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,542,570 |
| Non-operating Income & (Expense) | -645,674 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 2,861,721 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 13,113,354 |
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