Dec, 31, 2023 — NEW ENGLAND TEAMSTERS FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLESTOWN, MA with 1 branch location and about $75.13 million in total assets. Opened 51 years ago in 1973, NEW ENGLAND TEAMSTERS FEDERAL CREDIT UNION has about 4,948 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEW ENGLAND TEAMSTERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 548 Main St CHARLESTOWN, MA 02129-1109 |
| Phone: | (781) 641-6700 |
| Fax: | |
| Website: | https://www.netfcu.org |
| Branches: | 1 branch locations |
| Members: | 4,948 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21507 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1973 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $75,132,117 |
| CEO/Manager: | Kevin George |
| Chairperson: | Steven J South |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,049,402 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,868,369 |
| Unsecured Loans | 2,120,896 |
| Other Loans | 1,789,997 |
| TOTAL LOANS | 28,779,256 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -440,471 |
| Land And Building | 0 |
| Other Fixed Assets | 750,626 |
| NCUSIF Deposit | 553,082 |
| All Other Assets | 0 |
| TOTAL ASSETS | 75,132,117 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 886,924 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,332,582 |
| Regular shares | 27,515,852 |
| All Other Shares & Deposits | 29,316,300 |
| TOTAL SHARES & DEPOSITS | 69,164,734 |
| TOTAL LIABILITIES | 70,051,658 |
| Regular Reserve | 0 |
| Other Reserves | -2,846,649 |
| Undivided Earnings | 7,927,108 |
| TOTAL EQUITY | 5,080,459 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 75,132,117 |
| INCOME & EXPENSE | |
| Loan Income | 1,524,364 |
| Investment Income | 879,193 |
| Other Income | 374,789 |
| Total Employee Compensation & Benefits | 798,557 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,277,277 |
| Non-operating Income & (Expense) | 100,068 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 65,000 |
| Cost of Funds | 236,110 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 501,470 |
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