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ROCKLAND FEDERAL CREDIT UNION

Dec, 31, 2023 — ROCKLAND FEDERAL CREDIT UNION is a federal credit union headquartered in ROCKLAND, MA with 8 branch locations and about $3.03 billion in total assets. Opened 39 years ago in 1985, ROCKLAND FEDERAL CREDIT UNION has about 196,087 members and employs 206 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: 211373348
Name:ROCKLAND FEDERAL CREDIT UNION
Address:
(Main Office)
241 Union St
ROCKLAND, MA 02370
Phone:(781) 878-0232
Fax:(781) 878-7870
Website:https://www.rfcu.com
Branches:8 branch locations
Members:196,087
Credit Union Type:Federal Credit Union
Charter Number:24224
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1985
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$3,032,378,021
CEO/Manager:KRISTIN VANBEEK
Chairperson:Stephen T Gorman

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 201,075,760
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,136,865,478
 Unsecured Loans 22,486,108
 Other Loans 1,623,805,128
 TOTAL LOANS 2,783,156,714
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -24,640,391
 Land And Building 3,958,526
 Other Fixed Assets 2,069,350
 NCUSIF Deposit 21,321,804
 All Other Assets 0
  TOTAL ASSETS 3,032,378,021
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 65,000,000
 Accounts Payable & Other Liabilities 22,007,814
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 424,395,030
 Regular shares 457,495,647
 All Other Shares & Deposits 1,734,359,179
  TOTAL SHARES & DEPOSITS 2,616,249,856
  TOTAL LIABILITIES 2,703,257,670
 Regular Reserve 0
 Other Reserves -630,220
 Undivided Earnings 329,750,571
  TOTAL EQUITY 329,120,351
  TOTAL LIABILITIES, SHARES, & EQUITY 3,032,378,021
INCOME & EXPENSE  
 Loan Income 108,335,775
 Investment Income 7,513,064
 Other Income 2,725,033
 Total Employee Compensation & Benefits 20,944,455
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,311,856
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 200,000
 Cost of Funds 60,896,333
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 23,007,597
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