Credit Unions Near Me
National Credit Union Service Organization

MILLS42 FEDERAL CREDIT UNION

Dec, 31, 2020 — MILLS42 FEDERAL CREDIT UNION is a federal credit union headquartered in LOWELL, MA with 2 branch locations and about $26.32 million in total assets. Opened 63 years ago in 1958, MILLS42 FEDERAL CREDIT UNION has about 2,918 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211381592
Name:MILLS42 FEDERAL CREDIT UNION
Address:
(Main Office)
83 MERRIMACK ST
LOWELL, MA 01852
Phone:(978) 328-5100
Fax:(978) 458-8933
Website:http://www.mills42fcu.com
Branches:2 branch locations
Members:2,918
Credit Union Type:Federal Credit Union
Charter Number:12666
Membership Type:Multiple common bond - Primarily machinery
Corporate Credit Union:No
Year Opened:1958
Last Audited:Sep 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$26,316,902
CEO/Manager:Derek Cronin
Chairperson:Amy Fellows

Call Report

  • Credit Builder
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,949,761
TOTAL INVESTMENTS 2,350,951
Loans Held for Sale 0
 
 Real Estate Loans 8,728,674
 Unsecured Loans 1,964,817
 Other Loans 6,049,206
 TOTAL LOANS 16,742,697
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -51,204
 Land And Building 0
 Other Fixed Assets 29,786
 NCUSIF Deposit 180,495
 All Other Assets 114,416
  TOTAL ASSETS 26,316,902
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 750,000
 Accounts Payable & Other Liabilities 357,637
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,185,597
 Regular shares 6,447,244
 All Other Shares & Deposits 11,019,022
  TOTAL SHARES & DEPOSITS 22,651,863
  TOTAL LIABILITIES 23,759,500
 Regular Reserve 461,313
 Other Reserves 0
 Undivided Earnings 2,096,089
  TOTAL EQUITY 2,557,402
  TOTAL LIABILITIES, SHARES, & EQUITY 26,316,902
INCOME & EXPENSE  
 Loan Income 809,048
 Investment Income 50,576
 Other Income 690,094
 Total Employee Compensation & Benefits 698,010
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 501,792
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 11,483
 Cost of Funds 216,853
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 121,580
↑ Back to Top

Other Credit Unions

LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
375 Merrimack St
LOWELL, MA 01852-5909
BEDFORD VA FEDERAL CREDIT UNION
200 SPRINGS ROAD
BEDFORD, MA 01730-1114
LOWELL FIREFIGHTERS CREDIT UNION
642 CHELMSFORD ST
LOWELL, MA 01851
BILLERICA MUNICIPAL EMPLOYEES CREDIT UNION
365 BOSTON RD
BILLERICA, MA 01821
METHUEN FEDERAL CREDIT UNION
248 Broadway
METHUEN, MA 01844
THE ANDOVERS FEDERAL CREDIT UNION
19C LUPINE RD
ANDOVER, MA 01810-3909
BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
7 BEDFORD ST
BURLINGTON, MA 01803-3774
TEWKSBURY FEDERAL CREDIT UNION
752 MAIN ST
TEWKSBURY, MA 01876
NEW ENGLAND TEAMSTERS FEDERAL CREDIT UNION
1 WALL ST STE 402
BURLINGTON, MA 01803