GLOUCESTER MUNICIPAL CREDIT UNION is no longer an active credit union according to the NCUA.
Dec, 31, 2023 — GLOUCESTER MUNICIPAL CREDIT UNION is a federally insured state chartered credit union headquartered in GLOUCESTER, MA with 1 branch location and about $2.13 million in total assets. Opened 83 years ago in 1941, GLOUCESTER MUNICIPAL CREDIT UNION has about 473 members and employs 474 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GLOUCESTER MUNICIPAL CREDIT UNION |
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Address: (Main Office) | 9 DALE AVE, CITY HALL GLOUCESTER, MA 01930 |
Phone: | (978) 283-1345 |
Fax: | (978) 282-1496 |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 473 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66371 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Mar 01, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $2,128,281 |
CEO/Manager: | Lucinda L Pratt |
Chairperson: | Lawrence Ingersoll |
ASSETS: | $ Amount |
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Cash & Equivalents | 598,733 |
TOTAL INVESTMENTS | 1,165,761 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 320,201 |
Other Loans | 0 |
TOTAL LOANS | 320,201 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,900 |
Land And Building | 0 |
Other Fixed Assets | 2,448 |
NCUSIF Deposit | 16,159 |
All Other Assets | 30,879 |
TOTAL ASSETS | 2,128,281 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,327 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 1,786,540 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 1,786,540 |
TOTAL LIABILITIES | 1,787,867 |
Regular Reserve | 54,923 |
Other Reserves | 0 |
Undivided Earnings | 285,491 |
TOTAL EQUITY | 340,414 |
TOTAL LIABILITIES, SHARES, & EQUITY | 2,128,281 |
INCOME & EXPENSE | |
Loan Income | 35,356 |
Investment Income | 24,180 |
Other Income | 0 |
Total Employee Compensation & Benefits | 54,368 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 29,504 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 2,686 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -27,022 |
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