Dec, 31, 2023 — SHREWSBURY FEDERAL CREDIT UNION is a federal credit union headquartered in SHREWSBURY, MA with 1 branch location and about $212.61 million in total assets. Opened 64 years ago in 1960, SHREWSBURY FEDERAL CREDIT UNION has about 9,342 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SHREWSBURY FEDERAL CREDIT UNION |
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Address: (Main Office) | 489 BOSTON TPKE SHREWSBURY, MA 01545 |
Phone: | (508) 845-6755 |
Fax: | (508) 842-3835 |
Website: | https://www.shrewsburycu.com |
Branches: | 1 branch locations |
Members: | 9,342 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 13601 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1960 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $212,607,442 |
CEO/Manager: | JAMES J DUPONT |
Chairperson: | Gail Sokolowski |
ASSETS: | $ Amount |
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Cash & Equivalents | 15,741,241 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 69,633,419 |
Unsecured Loans | 14,219,167 |
Other Loans | 19,080,217 |
TOTAL LOANS | 102,959,996 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -496,893 |
Land And Building | 3,935,210 |
Other Fixed Assets | 267,210 |
NCUSIF Deposit | 1,715,706 |
All Other Assets | 0 |
TOTAL ASSETS | 212,607,442 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 15,500,000 |
Accounts Payable & Other Liabilities | 2,061,525 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 45,184,296 |
Regular shares | 82,182,260 |
All Other Shares & Deposits | 55,396,504 |
TOTAL SHARES & DEPOSITS | 182,763,060 |
TOTAL LIABILITIES | 200,324,585 |
Regular Reserve | 0 |
Other Reserves | -3,553,971 |
Undivided Earnings | 15,836,828 |
TOTAL EQUITY | 12,282,857 |
TOTAL LIABILITIES, SHARES, & EQUITY | 212,607,442 |
INCOME & EXPENSE | |
Loan Income | 4,556,823 |
Investment Income | 1,483,163 |
Other Income | 774,755 |
Total Employee Compensation & Benefits | 1,996,927 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,675,799 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 265,500 |
Cost of Funds | 1,462,443 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 843,258 |
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