Dec, 31, 2023 — SHARON & CRESCENT UNITED CREDIT UNION is a federally insured state chartered credit union headquartered in SHARON, MA with 12 branch locations and about $1.25 billion in total assets. Opened 68 years ago in 1956, SHARON & CRESCENT UNITED CREDIT UNION has about 81,064 members and employs 163 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SHARON & CRESCENT UNITED CREDIT UNION |
|---|---|
| Address: (Main Office) | 30 Pond St SHARON, MA 02067-2040 |
| Phone: | (781) 784-7725 |
| Fax: | |
| Website: | https://www.scucu.com |
| Branches: | 12 branch locations |
| Members: | 81,064 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67836 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,247,271,763 |
| CEO/Manager: | Glenn Parsons |
| Chairperson: | Howard Spiller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 36,093,351 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 708,398,477 |
| Unsecured Loans | 20,312,412 |
| Other Loans | 144,640,905 |
| TOTAL LOANS | 873,436,481 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,981,178 |
| Land And Building | 11,362,970 |
| Other Fixed Assets | 1,331,395 |
| NCUSIF Deposit | 9,219,906 |
| All Other Assets | 244,828 |
| TOTAL ASSETS | 1,247,271,763 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 75,866,127 |
| Accounts Payable & Other Liabilities | 16,408,942 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 245,130,684 |
| Regular shares | 347,627,151 |
| All Other Shares & Deposits | 413,025,954 |
| TOTAL SHARES & DEPOSITS | 1,005,783,790 |
| TOTAL LIABILITIES | 1,098,101,411 |
| Regular Reserve | 0 |
| Other Reserves | 51,433,147 |
| Undivided Earnings | 97,737,205 |
| TOTAL EQUITY | 149,170,352 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,247,271,763 |
| INCOME & EXPENSE | |
| Loan Income | 37,264,230 |
| Investment Income | 4,658,431 |
| Other Income | 2,284,376 |
| Total Employee Compensation & Benefits | 15,781,932 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,965,137 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,465,134 |
| Cost of Funds | 13,282,846 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,238,870 |
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