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HARVARD UNIVERSITY EMPLOYEES CREDIT UNION

Dec, 31, 2023 — HARVARD UNIVERSITY EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in CAMBRIDGE, MA with 6 branch locations and about $1.21 billion in total assets. Opened 85 years ago in 1939, HARVARD UNIVERSITY EMPLOYEES CREDIT UNION has about 55,081 members and employs 143 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:HARVARD UNIVERSITY EMPLOYEES CREDIT UNION
Address:
(Main Office)
104 Mount Auburn St Ste 4
CAMBRIDGE, MA 02138-5019
Phone:(617) 495-4460
Fax:(617) 496-9804
Website:https://www.huecu.org
Branches:6 branch locations
Members:55,081
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67696
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1939
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$1,212,810,380
CEO/Manager:Craig E Leonard
Chairperson:Jason Luke

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 25,323,245
TOTAL INVESTMENTS 0
Loans Held for Sale 6,605,404
 
 Real Estate Loans 720,441,418
 Unsecured Loans 318,098,214
 Other Loans 25,404,012
 TOTAL LOANS 1,063,943,644
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -8,200,649
 Land And Building 0
 Other Fixed Assets 2,635,255
 NCUSIF Deposit 7,890,559
 All Other Assets 19,341
  TOTAL ASSETS 1,212,810,380
LIABILITIES & CAPITAL:  
 Dividends Payable 2,473
 Notes & Interest Payable 249,341,041
 Accounts Payable & Other Liabilities 20,358,063
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 196,973,432
 Regular shares 274,573,176
 All Other Shares & Deposits 374,175,648
  TOTAL SHARES & DEPOSITS 845,722,256
  TOTAL LIABILITIES 1,115,826,833
 Regular Reserve 0
 Other Reserves -1,942,463
 Undivided Earnings 98,926,010
  TOTAL EQUITY 96,983,547
  TOTAL LIABILITIES, SHARES, & EQUITY 1,212,810,380
INCOME & EXPENSE  
 Loan Income 44,964,356
 Investment Income 2,489,122
 Other Income 2,166,577
 Total Employee Compensation & Benefits 15,807,114
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 15,779,159
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,125,000
 Cost of Funds 16,829,866
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,346,908
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