Dec, 31, 2023 — CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in CUMBERLAND, RI with 1 branch location and about $8.67 million in total assets. Opened 62 years ago in 1962, CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 972 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
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Address: (Main Office) | 2145 Diamond Hill Rd CUMBERLAND, RI 02864-5135 |
Phone: | (401) 658-0010 |
Fax: | (401) 658-0099 |
Website: | https://www.cumberlandcu.org |
Branches: | 1 branch locations |
Members: | 972 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24486 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $8,673,345 |
CEO/Manager: | Holly L Ayick |
Chairperson: | Geroge Stansfield |
ASSETS: | $ Amount |
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Cash & Equivalents | 715,651 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 382,348 |
Other Loans | 2,978,600 |
TOTAL LOANS | 3,360,948 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -522 |
Land And Building | 0 |
Other Fixed Assets | 116 |
NCUSIF Deposit | 58,914 |
All Other Assets | 0 |
TOTAL ASSETS | 8,673,345 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 30,324 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 19,760 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 2,804,197 |
All Other Shares & Deposits | 4,178,489 |
TOTAL SHARES & DEPOSITS | 6,982,686 |
TOTAL LIABILITIES | 7,032,770 |
Regular Reserve | 0 |
Other Reserves | 393,330 |
Undivided Earnings | 1,247,245 |
TOTAL EQUITY | 1,640,575 |
TOTAL LIABILITIES, SHARES, & EQUITY | 8,673,345 |
INCOME & EXPENSE | |
Loan Income | 168,818 |
Investment Income | 138,755 |
Other Income | 3,551 |
Total Employee Compensation & Benefits | 121,034 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 74,979 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -10,000 |
Cost of Funds | 38,416 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 86,695 |
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