Dec, 31, 2023 — LYNN TEACHERS CREDIT UNION is a federally insured state chartered credit union headquartered in LYNN, MA with 1 branch location and about $5.02 million in total assets. Opened 89 years ago in 1935, LYNN TEACHERS CREDIT UNION has about 656 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LYNN TEACHERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 33 N COMMON ST LYNN, MA 01902-4311 |
| Phone: | (781) 592-4936 |
| Fax: | (781) 595-5264 |
| Website: | https://www.lynnteacherscu.org |
| Branches: | 1 branch locations |
| Members: | 656 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67882 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $5,017,698 |
| CEO/Manager: | ADELE M POLIZZOTTI |
| Chairperson: | WARREN F WHITE |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,190,908 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,225,974 |
| Other Loans | 145,128 |
| TOTAL LOANS | 1,371,102 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,570 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 43,918 |
| All Other Assets | 0 |
| TOTAL ASSETS | 5,017,698 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 69,749 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,063,586 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 4,063,586 |
| TOTAL LIABILITIES | 4,133,335 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 884,363 |
| TOTAL EQUITY | 884,363 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,017,698 |
| INCOME & EXPENSE | |
| Loan Income | 126,327 |
| Investment Income | 114,066 |
| Other Income | 28 |
| Total Employee Compensation & Benefits | 95,053 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 117,982 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 17,976 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,584 |
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