Dec, 31, 2023 — SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $7.76 million in total assets. Opened 88 years ago in 1936, SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION has about 278 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION |
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Address: (Main Office) | 266 broadway SOMERVILLE, MA 02145 |
Phone: | (617) 625-6935 |
Fax: | (617) 623-7385 |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 278 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 943 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Nov 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $7,758,697 |
CEO/Manager: | kenneth m layton |
Chairperson: | john byrne |
ASSETS: | $ Amount |
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Cash & Equivalents | 224,659 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 983,029 |
Unsecured Loans | 560,322 |
Other Loans | 1,443,442 |
TOTAL LOANS | 2,986,793 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,000 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 71,672 |
All Other Assets | 0 |
TOTAL ASSETS | 7,758,697 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 7,763 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 6,441,673 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 6,441,673 |
TOTAL LIABILITIES | 6,449,436 |
Regular Reserve | 0 |
Other Reserves | 129,759 |
Undivided Earnings | 1,179,502 |
TOTAL EQUITY | 1,309,261 |
TOTAL LIABILITIES, SHARES, & EQUITY | 7,758,697 |
INCOME & EXPENSE | |
Loan Income | 113,553 |
Investment Income | 143,363 |
Other Income | 0 |
Total Employee Compensation & Benefits | 99,317 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 24,345 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 109,038 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 24,216 |
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