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STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in STONEHAM, MA with 3 branch locations and about $62.48 million in total assets. Opened 61 years ago in 1963, STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,930 members and employs 13 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: 211386005
Name:STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
40 Pine St
STONEHAM, MA 02180-2048
Phone:(781) 438-3959
Fax:(781) 438-6224
Website:https://www.smefcu.org
Branches:3 branch locations
Members:3,930
Credit Union Type:Federal Credit Union
Charter Number:15393
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1963
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$62,476,783
CEO/Manager:Ann Marie Waugh
Chairperson:Anita Woodland

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,738,122
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 14,392,756
 Unsecured Loans 1,757,538
 Other Loans 4,803,741
 TOTAL LOANS 20,954,035
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -95,612
 Land And Building 506,532
 Other Fixed Assets 98,640
 NCUSIF Deposit 539,079
 All Other Assets 0
  TOTAL ASSETS 62,476,783
LIABILITIES & CAPITAL:  
 Dividends Payable 31
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 208,337
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,112,852
 Regular shares 38,692,974
 All Other Shares & Deposits 4,955,581
  TOTAL SHARES & DEPOSITS 53,761,407
  TOTAL LIABILITIES 53,969,775
 Regular Reserve 0
 Other Reserves 3,788,293
 Undivided Earnings 4,718,715
  TOTAL EQUITY 8,507,008
  TOTAL LIABILITIES, SHARES, & EQUITY 62,476,783
INCOME & EXPENSE  
 Loan Income 827,443
 Investment Income 990,118
 Other Income 160,333
 Total Employee Compensation & Benefits 738,296
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 701,649
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -6,556
 Cost of Funds 136,431
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 437,164
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