Dec, 31, 2020 — DANVERS MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in Danvers, MA with 1 branch location and about $8.41 million in total assets. Opened 60 years ago in 1961, DANVERS MUNICIPAL FEDERAL CREDIT UNION has about 1,166 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | DANVERS MUNICIPAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 1 Sylvan St. Danvers, MA 01923 2790 |
Phone: | (978) 777-0001 |
Fax: | |
Website: | http://wwwdanversmfcu.com |
Branches: | 1 branch locations |
Members: | 1,166 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 14191 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1961 |
Last Audited: | Sep 01, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $8,411,567 |
CEO/Manager: | Joseph L Collins |
Chairperson: | Mark C Hannon |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,321,645 |
TOTAL INVESTMENTS | 3,788,348 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 169,271 |
Other Loans | 3,072,094 |
TOTAL LOANS | 3,241,365 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,000 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 49,203 |
All Other Assets | 16,006 |
TOTAL ASSETS | 8,411,567 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,274 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 18,114 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 5,620,493 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 5,620,493 |
TOTAL LIABILITIES | 5,639,881 |
Regular Reserve | 247,357 |
Other Reserves | 0 |
Undivided Earnings | 2,524,329 |
TOTAL EQUITY | 2,771,686 |
TOTAL LIABILITIES, SHARES, & EQUITY | 8,411,567 |
INCOME & EXPENSE | |
Loan Income | 111,942 |
Investment Income | 47,648 |
Other Income | 3,691 |
Total Employee Compensation & Benefits | 110,699 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 47,549 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 4,800 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 233 |
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