GREATER SALEM EMPLOYEES FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.greatersalemfcu.org for more information.
Dec, 31, 2023 — GREATER SALEM EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in SALEM, MA with 0 branch location and about $16.88 million in total assets. Opened 84 years ago in 1940, GREATER SALEM EMPLOYEES FEDERAL CREDIT UNION has about 1,282 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GREATER SALEM EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 10 COLONIAL RD STE 1A SALEM, MA 01970 |
| Phone: | (978) 745-9803 |
| Fax: | (978) 745-4116 |
| Website: | https://www.greatersalemfcu.org |
| Branches: | 0 branch locations |
| Members: | 1,282 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4201 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $16,881,687 |
| CEO/Manager: | Judith A Zolla |
| Chairperson: | Frank Kulik |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,696,221 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,777,721 |
| Unsecured Loans | 585,157 |
| Other Loans | 1,505,851 |
| TOTAL LOANS | 3,868,729 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -26,759 |
| Land And Building | 69,334 |
| Other Fixed Assets | 213,888 |
| NCUSIF Deposit | 157,497 |
| All Other Assets | 0 |
| TOTAL ASSETS | 16,881,687 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 40,390 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,930,805 |
| Regular shares | 9,238,372 |
| All Other Shares & Deposits | 3,831,475 |
| TOTAL SHARES & DEPOSITS | 16,000,652 |
| TOTAL LIABILITIES | 16,041,042 |
| Regular Reserve | 0 |
| Other Reserves | 268,768 |
| Undivided Earnings | 571,877 |
| TOTAL EQUITY | 840,645 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 16,881,687 |
| INCOME & EXPENSE | |
| Loan Income | 155,484 |
| Investment Income | 89,136 |
| Other Income | 18,106 |
| Total Employee Compensation & Benefits | 133,982 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 183,692 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,500 |
| Cost of Funds | 9,747 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -66,882 |
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