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TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION

Dec, 31, 2020 — TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION is a federal credit union headquartered in TORRINGTON, CT with 3 branch locations and about $65.56 million in total assets. Opened 61 years ago in 1960, TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION has about 9,766 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION
Address:
(Main Office)
777 EAST MAIN ST
TORRINGTON, CT 06790
Phone:(860) 489-2212
Fax:(860) 496-7024
Website:http://tmtfcu.org
Branches:3 branch locations
Members:9,766
Credit Union Type:Federal Credit Union
Charter Number:14003
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1960
Last Audited:Jul 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$65,559,438
CEO/Manager:Donna Marie A Battistoni
Chairperson:Joseph Manes

Call Report

  • Commercial Loans
  • Credit Builder
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • In-School Branches

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,952,045
TOTAL INVESTMENTS 23,923,229
Loans Held for Sale 0
 
 Real Estate Loans 4,877,210
 Unsecured Loans 3,519,164
 Other Loans 20,316,715
 TOTAL LOANS 28,713,089
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -152,575
 Land And Building 1,046,071
 Other Fixed Assets 155,073
 NCUSIF Deposit 565,011
 All Other Assets 357,495
  TOTAL ASSETS 65,559,438
LIABILITIES & CAPITAL:  
 Dividends Payable 4,284
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 106,290
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,182,895
 Regular shares 23,575,867
 All Other Shares & Deposits 26,522,619
  TOTAL SHARES & DEPOSITS 60,281,381
  TOTAL LIABILITIES 60,391,955
 Regular Reserve 412,904
 Other Reserves 0
 Undivided Earnings 4,754,579
  TOTAL EQUITY 5,167,483
  TOTAL LIABILITIES, SHARES, & EQUITY 65,559,438
INCOME & EXPENSE  
 Loan Income 1,741,309
 Investment Income 457,516
 Other Income 779,013
 Total Employee Compensation & Benefits 1,027,317
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,351,006
 Non-operating Income & (Expense) 3,988
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 59,795
 Cost of Funds 200,333
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 343,375
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