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METHUEN FEDERAL CREDIT UNION

Dec, 31, 2020 — METHUEN FEDERAL CREDIT UNION is a federal credit union headquartered in Methuen, MA with 1 branch location and about $28.68 million in total assets. Opened 65 years ago in 1956, METHUEN FEDERAL CREDIT UNION has about 2,838 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:METHUEN FEDERAL CREDIT UNION
Address:
(Main Office)
248 Broadway
Methuen, MA 01844
Phone:(978) 686-1471
Fax:(978) 686-2627
Website:http://methuencreditunion.com
Branches:1 branch locations
Members:2,838
Credit Union Type:Federal Credit Union
Charter Number:10954
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1956
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$28,679,100
CEO/Manager:ANDREW J MOISAN
Chairperson:Josephine Napolitano

Call Report

  • Overdraft Lines of Credit
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,735,881
TOTAL INVESTMENTS 9,366,935
Loans Held for Sale 0
 
 Real Estate Loans 7,047,938
 Unsecured Loans 3,192,572
 Other Loans 4,661,724
 TOTAL LOANS 14,902,234
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -63,041
 Land And Building 1,293,563
 Other Fixed Assets 112,722
 NCUSIF Deposit 214,452
 All Other Assets 116,354
  TOTAL ASSETS 28,679,100
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 78,145
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,373,227
 Regular shares 18,559,528
 All Other Shares & Deposits 3,147,805
  TOTAL SHARES & DEPOSITS 25,080,560
  TOTAL LIABILITIES 25,158,705
 Regular Reserve 376,321
 Other Reserves 77,825
 Undivided Earnings 3,066,249
  TOTAL EQUITY 3,520,395
  TOTAL LIABILITIES, SHARES, & EQUITY 28,679,100
INCOME & EXPENSE  
 Loan Income 653,328
 Investment Income 144,452
 Other Income 156,898
 Total Employee Compensation & Benefits 421,544
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 435,394
 Non-operating Income & (Expense) -13,037
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 27,893
 Cost of Funds 74,966
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -18,156
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