Dec, 31, 2023 — WELLESLEY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in WELLESLEY, MA with 0 branch location and about $29.06 million in total assets. Opened 69 years ago in 1955, WELLESLEY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 1,581 members and employs 5 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 |
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Address: (Main Office) | 1 HOLLIS ST Ste 105 WELLESLEY, MA 02482-4686 |
Phone: | (781) 235-0503 |
Fax: | (781) 431-0733 |
Website: | https://www.wellesleymunefcu.com |
Branches: | 0 branch locations |
Members: | 1,581 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10623 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Apr 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $29,062,219 |
CEO/Manager: | Doreen M Peterson |
Chairperson: | Jeanne T McGrath |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,242,813 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 4,624,013 |
Unsecured Loans | 755,336 |
Other Loans | 3,479,715 |
TOTAL LOANS | 8,859,064 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -24,005 |
Land And Building | 0 |
Other Fixed Assets | 3,642 |
NCUSIF Deposit | 287,268 |
All Other Assets | 0 |
TOTAL ASSETS | 29,062,219 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 16,984 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,651 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,313,358 |
Regular shares | 7,906,659 |
All Other Shares & Deposits | 17,098,099 |
TOTAL SHARES & DEPOSITS | 26,318,116 |
TOTAL LIABILITIES | 26,336,751 |
Regular Reserve | 0 |
Other Reserves | 436,482 |
Undivided Earnings | 2,288,986 |
TOTAL EQUITY | 2,725,468 |
TOTAL LIABILITIES, SHARES, & EQUITY | 29,062,219 |
INCOME & EXPENSE | |
Loan Income | 389,607 |
Investment Income | 559,768 |
Other Income | 8,680 |
Total Employee Compensation & Benefits | 321,503 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 228,053 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,000 |
Cost of Funds | 172,926 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 230,381 |
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