Sep, 30, 2025 — DANVERS MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in DANVERS, MA with 1 branch location and about $7.99 million in total assets. Opened 65 years ago in 1961, DANVERS MUNICIPAL FEDERAL CREDIT UNION has about 1,077 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 |
|---|---|
| Address: (Main Office) | 12 Sylvan St DANVERS, MA 01923 |
| Phone: | (978) 777-0001 |
| Fax: | |
| Website: | https://www.dmfcreditunion.com |
| Branches: | 1 branch locations |
| Members: | 1,077 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14191 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $7,992,419 |
| CEO/Manager: | Joseph L Collins |
| Chairperson: | Mark C Hannon |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,072,684 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 221,957 |
| Other Loans | 3,885,164 |
| TOTAL LOANS | 4,107,120 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,610 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 47,864 |
| All Other Assets | 0 |
| TOTAL ASSETS | 7,992,419 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 30,686 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,854,120 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 4,854,120 |
| TOTAL LIABILITIES | 4,884,806 |
| Regular Reserve | 0 |
| Other Reserves | 247,357 |
| Undivided Earnings | 2,860,256 |
| TOTAL EQUITY | 3,107,613 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,992,419 |
| INCOME & EXPENSE | |
| Loan Income | 145,393 |
| Investment Income | 95,729 |
| Other Income | 0 |
| Total Employee Compensation & Benefits | 87,473 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 33,774 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 1,833 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 118,042 |
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