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ST. MICHAELS FALL RIVER FEDERAL CREDIT UNION

Dec, 31, 2023 — ST. MICHAELS FALL RIVER FEDERAL CREDIT UNION is a federal credit union headquartered in FALL RIVER, MA with 2 branch locations and about $109.67 million in total assets. Opened 71 years ago in 1953, ST. MICHAELS FALL RIVER FEDERAL CREDIT UNION has about 3,346 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ST. MICHAELS FALL RIVER FEDERAL CREDIT UNION
Address:
(Main Office)
775 Davol St
FALL RIVER, MA 02720-1028
Phone:(508) 674-3861
Fax:(508) 677-4966
Website:https://www.stmichaelsfcu.com
Branches:2 branch locations
Members:3,346
Credit Union Type:Federal Credit Union
Charter Number:8915
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1953
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$109,667,415
CEO/Manager:Arastou Mahjoory
Chairperson:Craig J Cabral

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,731,782
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 84,941,753
 Unsecured Loans 2,202,090
 Other Loans 8,287,868
 TOTAL LOANS 95,431,711
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -120,337
 Land And Building 5,099,541
 Other Fixed Assets 121,585
 NCUSIF Deposit 755,832
 All Other Assets 0
  TOTAL ASSETS 109,667,415
LIABILITIES & CAPITAL:  
 Dividends Payable 146,316
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 13,038
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,382,405
 Regular shares 19,834,876
 All Other Shares & Deposits 70,424,064
  TOTAL SHARES & DEPOSITS 99,641,345
  TOTAL LIABILITIES 99,800,699
 Regular Reserve 0
 Other Reserves 759,087
 Undivided Earnings 9,107,629
  TOTAL EQUITY 9,866,716
  TOTAL LIABILITIES, SHARES, & EQUITY 109,667,415
INCOME & EXPENSE  
 Loan Income 4,868,835
 Investment Income 341,659
 Other Income 98,091
 Total Employee Compensation & Benefits 1,897,410
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,114,836
 Non-operating Income & (Expense) 434,022
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,812,968
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 917,393
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