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.
Name: | ROCKLAND FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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