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NORTH ADAMS M E FEDERAL CREDIT UNION

Dec, 31, 2020 — NORTH ADAMS M E FEDERAL CREDIT UNION is a federal credit union headquartered in North Adams, MA with 1 branch location and about $2.06 million in total assets. Opened 62 years ago in 1959, NORTH ADAMS M E FEDERAL CREDIT UNION has about 396 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTH ADAMS M E FEDERAL CREDIT UNION
Address:
(Main Office)
60 Roberts Drive Ste 112
North Adams, MA 01247
Phone:(413) 662-2657
Fax:(413) 662-2173
Website:http://namefed.webs.com
Branches:1 branch locations
Members:396
Credit Union Type:Federal Credit Union
Charter Number:13274
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1959
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$2,060,508
CEO/Manager:Karen A Cook
Chairperson:Wayne Andreatta

Call Report

  • Risk Based Loans

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 235,403
TOTAL INVESTMENTS 790,835
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 324,033
 Other Loans 709,831
 TOTAL LOANS 1,033,864
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,162
 Land And Building 0
 Other Fixed Assets 637
 NCUSIF Deposit 14,392
 All Other Assets 3,539
  TOTAL ASSETS 2,060,508
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,299
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,616,148
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 1,616,148
  TOTAL LIABILITIES 1,618,447
 Regular Reserve 66,944
 Other Reserves 0
 Undivided Earnings 375,117
  TOTAL EQUITY 442,061
  TOTAL LIABILITIES, SHARES, & EQUITY 2,060,508
INCOME & EXPENSE  
 Loan Income 64,904
 Investment Income 10,429
 Other Income 1,762
 Total Employee Compensation & Benefits 46,726
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,583
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,069
 Cost of Funds 1,532
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,185
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