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METHUEN FEDERAL CREDIT UNION

Mar, 31, 2021 — METHUEN FEDERAL CREDIT UNION is a federal credit union headquartered in Methuen, MA with 1 branch location and about $31.03 million in total assets. Opened 65 years ago in 1956, METHUEN FEDERAL CREDIT UNION has about 2,475 members and employs 6 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:2,475
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:$31,025,212
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 5,887,195
TOTAL INVESTMENTS 9,169,153
Loans Held for Sale 0
 
 Real Estate Loans 7,252,297
 Unsecured Loans 2,457,592
 Other Loans 4,519,544
 TOTAL LOANS 14,229,433
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -56,521
 Land And Building 1,286,574
 Other Fixed Assets 109,390
 NCUSIF Deposit 214,452
 All Other Assets 185,536
  TOTAL ASSETS 31,025,212
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 165,830
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,511,608
 Regular shares 20,415,038
 All Other Shares & Deposits 3,364,788
  TOTAL SHARES & DEPOSITS 27,291,434
  TOTAL LIABILITIES 27,457,264
 Regular Reserve 376,320
 Other Reserves 77,825
 Undivided Earnings 3,113,803
  TOTAL EQUITY 3,567,948
  TOTAL LIABILITIES, SHARES, & EQUITY 31,025,212
INCOME & EXPENSE  
 Loan Income 162,082
 Investment Income 25,922
 Other Income 35,865
 Total Employee Compensation & Benefits 106,413
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 113,603
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 13,233
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 47,534
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