Dec, 31, 2023 — METHUEN FEDERAL CREDIT UNION is a federal credit union headquartered in METHUEN, MA with 1 branch location and about $35.50 million in total assets. Opened 68 years ago in 1956, METHUEN FEDERAL CREDIT UNION has about 2,456 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | METHUEN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 248 Broadway METHUEN, MA 01844 |
| Phone: | (978) 686-1471 |
| Fax: | (978) 686-2627 |
| Website: | https://methuencreditunion.com |
| Branches: | 1 branch locations |
| Members: | 2,456 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10954 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $35,501,456 |
| CEO/Manager: | Andrew J Moisan |
| Chairperson: | Josephine Napolitano |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,945,886 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,851,528 |
| Unsecured Loans | 2,116,315 |
| Other Loans | 4,202,500 |
| TOTAL LOANS | 16,170,343 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -47,876 |
| Land And Building | 1,205,501 |
| Other Fixed Assets | 28,690 |
| NCUSIF Deposit | 322,366 |
| All Other Assets | 0 |
| TOTAL ASSETS | 35,501,456 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 57,868 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,476,973 |
| Regular shares | 19,155,061 |
| All Other Shares & Deposits | 9,175,186 |
| TOTAL SHARES & DEPOSITS | 31,807,221 |
| TOTAL LIABILITIES | 31,865,089 |
| Regular Reserve | 0 |
| Other Reserves | 367,292 |
| Undivided Earnings | 3,269,075 |
| TOTAL EQUITY | 3,636,367 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 35,501,456 |
| INCOME & EXPENSE | |
| Loan Income | 824,577 |
| Investment Income | 289,932 |
| Other Income | 163,376 |
| Total Employee Compensation & Benefits | 510,296 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 548,365 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,934 |
| Cost of Funds | 212,207 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 12,843 |
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