Dec, 31, 2023 — ARRHA CREDIT UNION is a federally insured state chartered credit union headquartered in SPRINGFIELD, MA with 3 branch locations and about $139.87 million in total assets. Opened 95 years ago in 1929, ARRHA CREDIT UNION has about 9,620 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ARRHA CREDIT UNION |
|---|---|
| Address: (Main Office) | 145 Industry Ave SPRINGFIELD, MA 01104-3222 |
| Phone: | (413) 732-9812 |
| Fax: | (413) 737-7635 |
| Website: | https://www.arrhacu.com |
| Branches: | 3 branch locations |
| Members: | 9,620 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61189 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1929 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $139,867,406 |
| CEO/Manager: | Michael S Ostrowski |
| Chairperson: | Todd S Cieplinski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,872,839 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 90,122,877 |
| Unsecured Loans | 1,487,861 |
| Other Loans | 12,282,846 |
| TOTAL LOANS | 103,902,656 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -310,320 |
| Land And Building | 2,264,364 |
| Other Fixed Assets | 618,503 |
| NCUSIF Deposit | 1,134,141 |
| All Other Assets | 0 |
| TOTAL ASSETS | 139,867,406 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,045 |
| Notes & Interest Payable | 10,575,000 |
| Accounts Payable & Other Liabilities | 1,625,691 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 22,882,282 |
| Regular shares | 51,242,107 |
| All Other Shares & Deposits | 41,108,542 |
| TOTAL SHARES & DEPOSITS | 115,232,931 |
| TOTAL LIABILITIES | 127,439,667 |
| Regular Reserve | 0 |
| Other Reserves | -743,421 |
| Undivided Earnings | 13,171,160 |
| TOTAL EQUITY | 12,427,739 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 139,867,406 |
| INCOME & EXPENSE | |
| Loan Income | 4,215,529 |
| Investment Income | 791,449 |
| Other Income | 708,603 |
| Total Employee Compensation & Benefits | 2,351,603 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,375,081 |
| Non-operating Income & (Expense) | -21,727 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 33,891 |
| Cost of Funds | 1,122,055 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 273,135 |
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