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NORTH ADAMS M E FEDERAL CREDIT UNION

Mar, 31, 2021 — NORTH ADAMS M E FEDERAL CREDIT UNION is a federal credit union headquartered in North Adams, MA with 1 branch location and about $2.11 million in total assets. Opened 62 years ago in 1959, NORTH ADAMS M E FEDERAL CREDIT UNION has about 382 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:382
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:$2,110,554
CEO/Manager:Dina L Fachini
Chairperson:Wayne Andreatta

Call Report

  • Risk Based Loans

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 278,624
TOTAL INVESTMENTS 792,155
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 301,934
 Other Loans 739,016
 TOTAL LOANS 1,040,950
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,322
 Land And Building 0
 Other Fixed Assets 293
 NCUSIF Deposit 14,392
 All Other Assets 2,462
  TOTAL ASSETS 2,110,554
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,776
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,669,148
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 1,669,148
  TOTAL LIABILITIES 1,670,924
 Regular Reserve 66,944
 Other Reserves 0
 Undivided Earnings 372,686
  TOTAL EQUITY 439,630
  TOTAL LIABILITIES, SHARES, & EQUITY 2,110,554
INCOME & EXPENSE  
 Loan Income 16,147
 Investment Income 1,348
 Other Income 583
 Total Employee Compensation & Benefits 10,517
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 8,696
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 271
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,152
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