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BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in BURLINGTON, MA with 0 branch location and about $10.93 million in total assets. Opened 62 years ago in 1962, BURLINGTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 1,233 members 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:1,233
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$10,925,215
CEO/Manager:Beverly E Hanafin
Chairperson:Richard Howard

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,141,827
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 579,549
 Unsecured Loans 941,481
 Other Loans 3,175,136
 TOTAL LOANS 4,696,166
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -28,694
 Land And Building 0
 Other Fixed Assets 18,115
 NCUSIF Deposit 101,827
 All Other Assets 0
  TOTAL ASSETS 10,925,215
LIABILITIES & CAPITAL:  
 Dividends Payable 2,493
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,237
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,028,340
 Regular shares 8,296,238
 All Other Shares & Deposits 451,517
  TOTAL SHARES & DEPOSITS 9,776,095
  TOTAL LIABILITIES 9,783,825
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 1,141,390
  TOTAL EQUITY 1,141,390
  TOTAL LIABILITIES, SHARES, & EQUITY 10,925,215
INCOME & EXPENSE  
 Loan Income 269,099
 Investment Income 213,979
 Other Income 3,220
 Total Employee Compensation & Benefits 213,872
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 88,593
 Non-operating Income & (Expense) 14,663
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,000
 Cost of Funds 12,199
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 176,297
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