Dec, 31, 2023 — NORWOOD TOWN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in NORWOOD, MA with 1 branch location and about $6.13 million in total assets. Opened 59 years ago in 1965, NORWOOD TOWN EMPLOYEES FEDERAL CREDIT UNION has about 804 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORWOOD TOWN EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO BOX 340 NORWOOD, MA 02062-4330 |
| Phone: | (781) 769-5169 |
| Fax: | (781) 769-7818 |
| Website: | https://norwoodcreditunion.com |
| Branches: | 1 branch locations |
| Members: | 804 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17112 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,127,508 |
| CEO/Manager: | DONNA S GRANT |
| Chairperson: | PAUL A BISHOP |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 337,107 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,210,543 |
| Other Loans | 2,637,374 |
| TOTAL LOANS | 3,847,917 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -27,766 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 52,087 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,127,508 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 0 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,664,166 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 4,664,166 |
| TOTAL LIABILITIES | 4,664,166 |
| Regular Reserve | 0 |
| Other Reserves | 62,176 |
| Undivided Earnings | 1,401,166 |
| TOTAL EQUITY | 1,463,342 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,127,508 |
| INCOME & EXPENSE | |
| Loan Income | 195,929 |
| Investment Income | 55,018 |
| Other Income | 8,310 |
| Total Employee Compensation & Benefits | 85,344 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 82,422 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 8,989 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 82,502 |
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