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WELLESLEY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — WELLESLEY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in wELLESLEY, MA with 0 branch location and about $32.34 million in total assets. Opened 66 years ago in 1955, WELLESLEY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 1,703 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:WELLESLEY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
1 HOLLIS ST Ste 105
wELLESLEY, MA 02482
Phone:(781) 235-0503
Fax:(781) 431-0733
Website:http://www.wellesleymunefcu.com
Branches:0 branch locations
Members:1,703
Credit Union Type:Federal Credit Union
Charter Number:10623
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1955
Last Audited:Apr 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$32,337,918
CEO/Manager:Doreen M Peterson
Chairperson:Jeanne T McGrath

Call Report

  • Real Estate Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,812,320
TOTAL INVESTMENTS 18,825,239
Loans Held for Sale 0
 
 Real Estate Loans 6,515,234
 Unsecured Loans 730,747
 Other Loans 2,773,705
 TOTAL LOANS 10,019,686
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -22,726
 Land And Building 0
 Other Fixed Assets 16,732
 NCUSIF Deposit 249,070
 All Other Assets 437,597
  TOTAL ASSETS 32,337,918
LIABILITIES & CAPITAL:  
 Dividends Payable 10,758
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 92,159
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,292,776
 Regular shares 8,377,110
 All Other Shares & Deposits 19,781,217
  TOTAL SHARES & DEPOSITS 29,451,103
  TOTAL LIABILITIES 29,554,020
 Regular Reserve 436,482
 Other Reserves -492,645
 Undivided Earnings 2,840,061
  TOTAL EQUITY 2,783,898
  TOTAL LIABILITIES, SHARES, & EQUITY 32,337,918
INCOME & EXPENSE  
 Loan Income 96,191
 Investment Income 74,699
 Other Income 1,965
 Total Employee Compensation & Benefits 75,095
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 57,371
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,500
 Cost of Funds 28,571
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 11,248
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