Dec, 31, 2023 — COMMON TRUST FEDERAL CREDIT UNION is a federal credit union headquartered in WOBURN, MA with 0 branch location and about $55.78 million in total assets. Opened 58 years ago in 1966, COMMON TRUST FEDERAL CREDIT UNION has about 3,478 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMON TRUST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 8 Cedar St WOBURN, MA 01801-7246 |
| Phone: | (781) 933-2600 |
| Fax: | (781) 933-3621 |
| Website: | https://www.commontrustfcu.org |
| Branches: | 0 branch locations |
| Members: | 3,478 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17847 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $55,778,098 |
| CEO/Manager: | James M McCorkle |
| Chairperson: | Harrison H Condon |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,208,888 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,628,630 |
| Unsecured Loans | 3,316,142 |
| Other Loans | 7,623,594 |
| TOTAL LOANS | 29,568,366 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -181,151 |
| Land And Building | 0 |
| Other Fixed Assets | 23,129 |
| NCUSIF Deposit | 544,121 |
| All Other Assets | 0 |
| TOTAL ASSETS | 55,778,098 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 285,457 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,362,439 |
| Regular shares | 23,587,035 |
| All Other Shares & Deposits | 23,103,862 |
| TOTAL SHARES & DEPOSITS | 53,053,336 |
| TOTAL LIABILITIES | 53,338,793 |
| Regular Reserve | 0 |
| Other Reserves | -2,489,539 |
| Undivided Earnings | 4,928,844 |
| TOTAL EQUITY | 2,439,305 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 55,778,098 |
| INCOME & EXPENSE | |
| Loan Income | 1,370,041 |
| Investment Income | 772,769 |
| Other Income | 77,446 |
| Total Employee Compensation & Benefits | 831,063 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 838,892 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 209,759 |
| Cost of Funds | 262,666 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 303,152 |
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