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BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in BURLINGTON, MA with 0 branch location and about $11.37 million in total assets. Opened 59 years ago in 1962, BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 1,348 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
7 BEDFORD ST
BURLINGTON, MA 01803-3774
Phone:(781) 272-2046
Fax:(781) 273-4987
Website:n/a
Branches:0 branch locations
Members:1,348
Credit Union Type:Federal Credit Union
Charter Number:14865
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1962
Last Audited:Aug 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$11,370,701
CEO/Manager:Beverly E Hanafin
Chairperson:Richard Howard

Call Report

  • Participation Loans
  • Real Estate Loans
  • Check Cashing

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,593,334
TOTAL INVESTMENTS 4,046,461
Loans Held for Sale 0
 
 Real Estate Loans 971,498
 Unsecured Loans 1,269,017
 Other Loans 2,412,237
 TOTAL LOANS 4,652,752
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -35,585
 Land And Building 0
 Other Fixed Assets 537
 NCUSIF Deposit 86,804
 All Other Assets 26,398
  TOTAL ASSETS 11,370,701
LIABILITIES & CAPITAL:  
 Dividends Payable 1,440
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 49,166
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,177,864
 Regular shares 8,562,751
 All Other Shares & Deposits 660,059
  TOTAL SHARES & DEPOSITS 10,400,674
  TOTAL LIABILITIES 10,451,280
 Regular Reserve 225,491
 Other Reserves 0
 Undivided Earnings 693,930
  TOTAL EQUITY 919,421
  TOTAL LIABILITIES, SHARES, & EQUITY 11,370,701
INCOME & EXPENSE  
 Loan Income 250,358
 Investment Income 88,015
 Other Income 16,996
 Total Employee Compensation & Benefits 228,188
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 73,857
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,000
 Cost of Funds 11,881
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 36,443
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