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MASS BAY CREDIT UNION

Dec, 31, 2023 — MASS BAY CREDIT UNION is a federally insured state chartered credit union headquartered in SOUTH BOSTON, MA with 4 branch locations and about $350.04 million in total assets. Opened 88 years ago in 1936, MASS BAY CREDIT UNION has about 18,543 members and employs 54 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211083557
Name:MASS BAY CREDIT UNION
Address:
(Main Office)
147 W 4th St
SOUTH BOSTON, MA 02127
Phone:(617) 269-2700
Fax:
Website:https://www.massbaycu.org
Branches:4 branch locations
Members:18,543
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68137
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$350,038,842
CEO/Manager:Theresa A Dorilas
Chairperson:John P Kineavy

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 15,477,487
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 240,468,933
 Unsecured Loans 17,438,059
 Other Loans 36,637,484
 TOTAL LOANS 294,544,476
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -447,697
 Land And Building 3,842,889
 Other Fixed Assets 1,481,966
 NCUSIF Deposit 2,322,928
 All Other Assets 0
  TOTAL ASSETS 350,038,842
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 67,000,000
 Accounts Payable & Other Liabilities 7,190,895
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 50,225,083
 Regular shares 100,729,320
 All Other Shares & Deposits 92,033,096
  TOTAL SHARES & DEPOSITS 242,987,499
  TOTAL LIABILITIES 317,178,394
 Regular Reserve 0
 Other Reserves -3,661,578
 Undivided Earnings 36,522,026
  TOTAL EQUITY 32,860,448
  TOTAL LIABILITIES, SHARES, & EQUITY 350,038,842
INCOME & EXPENSE  
 Loan Income 13,214,145
 Investment Income 917,173
 Other Income 1,412,258
 Total Employee Compensation & Benefits 4,870,277
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,306,239
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 408,898
 Cost of Funds 4,392,895
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,508,073
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