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 |
| 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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