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GLOUCESTER FIRE DEPARTMENT CREDIT UNION

Dec, 31, 2023 — GLOUCESTER FIRE DEPARTMENT CREDIT UNION is a federally insured state chartered credit union headquartered in GLOUCESTER, MA with 1 branch location and about $662,521 in total assets. Opened 86 years ago in 1938, GLOUCESTER FIRE DEPARTMENT CREDIT UNION has about 93 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:GLOUCESTER FIRE DEPARTMENT CREDIT UNION
Address:
(Main Office)
FIRE HEADQUARTERS, 8 SCHOOL ST
GLOUCESTER, MA 01930
Phone:(978) 281-9761
Fax:
Website:n/a
Branches:1 branch locations
Members:93
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67905
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1938
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$662,521
CEO/Manager:DeCoste M Dean
Chairperson:Glen S Asaro

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 129,031
TOTAL INVESTMENTS 200,805
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 329,107
 Other Loans 1,829
 TOTAL LOANS 330,936
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,296
 Land And Building 0
 Other Fixed Assets 26
 NCUSIF Deposit 4,411
 All Other Assets 608
  TOTAL ASSETS 662,521
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,874
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 450,996
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 450,996
  TOTAL LIABILITIES 454,870
 Regular Reserve 18,200
 Other Reserves 0
 Undivided Earnings 189,451
  TOTAL EQUITY 207,651
  TOTAL LIABILITIES, SHARES, & EQUITY 662,521
INCOME & EXPENSE  
 Loan Income 20,186
 Investment Income 1,593
 Other Income 5
 Total Employee Compensation & Benefits 14,532
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 8,771
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 745
 Cost of Funds 2,298
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -4,562
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