Dec, 31, 2023 — MEMBERSFIRST CT FEDERAL CREDIT UNION is a federal credit union headquartered in MERIDEN, CT with 4 branch locations and about $101.30 million in total assets. Opened 88 years ago in 1936, MEMBERSFIRST CT FEDERAL CREDIT UNION has about 6,161 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMBERSFIRST CT FEDERAL CREDIT UNION |
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Address: (Main Office) | 285 Broad St MERIDEN, CT 06450-5847 |
Phone: | (203) 237-6424 |
Fax: | (203) 237-6166 |
Website: | https://membersfirstctfcu.com |
Branches: | 4 branch locations |
Members: | 6,161 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1049 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $101,302,306 |
CEO/Manager: | Edward M Hogan |
Chairperson: | James Suzio |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,244,403 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 25,319,882 |
Unsecured Loans | 5,208,330 |
Other Loans | 10,561,058 |
TOTAL LOANS | 41,089,268 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -311,000 |
Land And Building | 231,119 |
Other Fixed Assets | 25,878 |
NCUSIF Deposit | 903,308 |
All Other Assets | 0 |
TOTAL ASSETS | 101,302,306 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 109,354 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 16,233,893 |
Regular shares | 33,986,606 |
All Other Shares & Deposits | 40,178,560 |
TOTAL SHARES & DEPOSITS | 90,399,060 |
TOTAL LIABILITIES | 90,508,414 |
Regular Reserve | 0 |
Other Reserves | 2,359,232 |
Undivided Earnings | 8,434,660 |
TOTAL EQUITY | 10,793,892 |
TOTAL LIABILITIES, SHARES, & EQUITY | 101,302,306 |
INCOME & EXPENSE | |
Loan Income | 1,736,217 |
Investment Income | 1,374,748 |
Other Income | 317,084 |
Total Employee Compensation & Benefits | 1,136,155 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,195,316 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 74,810 |
Cost of Funds | 714,031 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 533,736 |
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» See also Statement of Financial Condition