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TREMONT CREDIT UNION

Dec, 31, 2023 — TREMONT CREDIT UNION is a federally insured state chartered credit union headquartered in MILTON, MA with 4 branch locations and about $261.13 million in total assets. Opened 72 years ago in 1952, TREMONT CREDIT UNION has about 13,886 members and employs 41 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: 211080754
Name:TREMONT CREDIT UNION
Address:
(Main Office)
2 Granite Ave
MILTON, MA 02186
Phone:(781) 843-5626
Fax:(781) 356-7302
Website:https://www.tremontcu.org
Branches:4 branch locations
Members:13,886
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68349
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1952
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$261,134,843
CEO/Manager:George G Hardiman
Chairperson:Kevin R Mullen

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,160,016
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 140,706,663
 Unsecured Loans 25,620,163
 Other Loans 28,815,236
 TOTAL LOANS 195,142,062
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,337,715
 Land And Building 0
 Other Fixed Assets 1,042,995
 NCUSIF Deposit 1,898,082
 All Other Assets 0
  TOTAL ASSETS 261,134,843
LIABILITIES & CAPITAL:  
 Dividends Payable 15,530
 Notes & Interest Payable 26,995,089
 Accounts Payable & Other Liabilities 2,699,754
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 38,716,387
 Regular shares 95,054,604
 All Other Shares & Deposits 75,725,095
  TOTAL SHARES & DEPOSITS 209,496,086
  TOTAL LIABILITIES 239,206,459
 Regular Reserve 0
 Other Reserves -4,721,939
 Undivided Earnings 26,650,323
  TOTAL EQUITY 21,928,384
  TOTAL LIABILITIES, SHARES, & EQUITY 261,134,843
INCOME & EXPENSE  
 Loan Income 10,973,100
 Investment Income 1,377,770
 Other Income 1,572,448
 Total Employee Compensation & Benefits 3,817,181
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,943,903
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,754,428
 Cost of Funds 2,764,343
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -852,213
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