Dec, 31, 2023 — NEW ENGLAND FEDERAL CREDIT UNION is a federal credit union headquartered in WILLISTON, VT with 19 branch locations and about $3.00 billion in total assets. Opened 63 years ago in 1961, NEW ENGLAND FEDERAL CREDIT UNION has about 166,811 members and employs 451 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NEW ENGLAND FEDERAL CREDIT UNION |
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Address: (Main Office) | 141 Harvest Ln WILLISTON, VT 05495-7331 |
Phone: | (802) 879-8790 |
Fax: | |
Website: | https://www.nefcu.com |
Branches: | 19 branch locations |
Members: | 166,811 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 19263 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1961 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $3,000,170,378 |
CEO/Manager: | John J Dwyer, Jr |
Chairperson: | Arthur G Woolf |
ASSETS: | $ Amount |
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Cash & Equivalents | 64,680,812 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 4,872,924 |
Real Estate Loans | 1,999,246,724 |
Unsecured Loans | 184,920,060 |
Other Loans | 268,956,798 |
TOTAL LOANS | 2,456,267,999 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,855,385 |
Land And Building | 37,700,091 |
Other Fixed Assets | 7,802,595 |
NCUSIF Deposit | 23,739,698 |
All Other Assets | 135,655 |
TOTAL ASSETS | 3,000,170,378 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 707,165 |
Notes & Interest Payable | 180,243,094 |
Accounts Payable & Other Liabilities | 47,111,520 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 492,186,842 |
Regular shares | 738,733,301 |
All Other Shares & Deposits | 1,213,036,992 |
TOTAL SHARES & DEPOSITS | 2,443,957,135 |
TOTAL LIABILITIES | 2,672,018,914 |
Regular Reserve | 0 |
Other Reserves | 72,236,436 |
Undivided Earnings | 255,915,028 |
TOTAL EQUITY | 328,151,464 |
TOTAL LIABILITIES, SHARES, & EQUITY | 3,000,170,378 |
INCOME & EXPENSE | |
Loan Income | 125,150,949 |
Investment Income | 8,747,384 |
Other Income | 10,022,582 |
Total Employee Compensation & Benefits | 55,661,066 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 40,572,005 |
Non-operating Income & (Expense) | -12,000,192 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,073,582 |
Cost of Funds | 38,319,381 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 15,691,654 |
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