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.
Name: | TREMONT CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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