Dec, 31, 2023 — LUSO FEDERAL CREDIT UNION is a federal credit union headquartered in LUDLOW, MA with 2 branch locations and about $240.83 million in total assets. Opened 53 years ago in 1971, LUSO FEDERAL CREDIT UNION has about 8,095 members and employs 35 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LUSO FEDERAL CREDIT UNION |
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Address: (Main Office) | 599 East St LUDLOW, MA 01056 |
Phone: | (413) 589-9966 |
Fax: | (413) 583-4491 |
Website: | https://www.lusofederal.com |
Branches: | 2 branch locations |
Members: | 8,095 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 20600 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1971 |
Last Audited: | Aug 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $240,825,512 |
CEO/Manager: | Jennifer G Calheno |
Chairperson: | Maria F Gomes |
ASSETS: | $ Amount |
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Cash & Equivalents | 8,092,335 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 182,220,981 |
Unsecured Loans | 2,333,223 |
Other Loans | 6,697,309 |
TOTAL LOANS | 191,251,513 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -735,952 |
Land And Building | 2,582,726 |
Other Fixed Assets | 363,662 |
NCUSIF Deposit | 1,853,693 |
All Other Assets | 0 |
TOTAL ASSETS | 240,825,512 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 26,949 |
Notes & Interest Payable | 5,000,000 |
Accounts Payable & Other Liabilities | 1,658,096 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 25,653,261 |
Regular shares | 58,707,864 |
All Other Shares & Deposits | 122,829,687 |
TOTAL SHARES & DEPOSITS | 207,190,812 |
TOTAL LIABILITIES | 213,877,656 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 26,947,856 |
TOTAL EQUITY | 26,947,856 |
TOTAL LIABILITIES, SHARES, & EQUITY | 240,825,512 |
INCOME & EXPENSE | |
Loan Income | 7,532,542 |
Investment Income | 1,001,871 |
Other Income | 412,584 |
Total Employee Compensation & Benefits | 2,894,461 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,220,773 |
Non-operating Income & (Expense) | -345 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 207,141 |
Cost of Funds | 3,759,026 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -607,838 |
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