Credit Unions Near Me
National Credit Union Service Organization

SOMERSET FEDERAL CREDIT UNION

Dec, 31, 2023 — SOMERSET FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERSET, MA with 2 branch locations and about $235.77 million in total assets. Opened 88 years ago in 1936, SOMERSET FEDERAL CREDIT UNION has about 13,349 members and employs 35 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: 211385572
Name:SOMERSET FEDERAL CREDIT UNION
Address:
(Main Office)
740 County St
SOMERSET, MA 02726
Phone:(508) 678-2851
Fax:(508) 646-9903
Website:https://www.somersetfcu.com
Branches:2 branch locations
Members:13,349
Credit Union Type:Federal Credit Union
Charter Number:24239
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$235,767,635
CEO/Manager:Joseph Lajoie
Chairperson:Michael Rezendes

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,220,403
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 117,622,994
 Unsecured Loans 3,385,443
 Other Loans 24,423,191
 TOTAL LOANS 145,431,629
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -319,218
 Land And Building 2,211,156
 Other Fixed Assets 266,025
 NCUSIF Deposit 1,949,219
 All Other Assets 229,754
  TOTAL ASSETS 235,767,635
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 11,300,000
 Accounts Payable & Other Liabilities 1,017,496
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 41,956,852
 Regular shares 69,314,065
 All Other Shares & Deposits 88,807,731
  TOTAL SHARES & DEPOSITS 200,078,648
  TOTAL LIABILITIES 212,396,144
 Regular Reserve 0
 Other Reserves 1,796,908
 Undivided Earnings 21,574,583
  TOTAL EQUITY 23,371,491
  TOTAL LIABILITIES, SHARES, & EQUITY 235,767,635
INCOME & EXPENSE  
 Loan Income 5,647,980
 Investment Income 2,708,205
 Other Income 539,426
 Total Employee Compensation & Benefits 3,080,827
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,934,926
 Non-operating Income & (Expense) 172,390
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 32,062
 Cost of Funds 1,825,731
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,662,506
↑ Back to Top

Other Credit Unions

MORTON FEDERAL CREDIT UNION
88 washington st
TAUNTON, MA 02780-2465
ST. DOMINICS FEDERAL CREDIT UNION
1723 GAR HWY
SWANSEA, MA 02777
ST. ANTHONY OF PADUA FEDERAL CREDIT UNION
806 Bedford St
FALL RIVER, MA 02723
SANTO CHRISTO FEDERAL CREDIT UNION
149 Columbia St
FALL RIVER, MA 02721-1360
ST. ANTHONY OF NEW BEDFORD FEDERAL CREDIT UNION
1743 Acushnet Ave.
NEW BEDFORD, MA 02746-2126
ACUSHNET FEDERAL CREDIT UNION
112 Main St
ACUSHNET, MA 02743
COASTAL NEW ENGLAND FEDERAL CREDIT UNION
93 UNION ST
NEW BEDFORD, MA 02740
NOTRE DAME COMMUNITY FEDERAL CREDIT UNION
659 Eastern Ave
FALL RIVER, MA 02723
WESTPORT FEDERAL CREDIT UNION
655 State Rd
WESTPORT, MA 02790
SOUTHCOAST FEDERAL CREDIT UNION
271 Union St
NEW BEDFORD, MA 02740