REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.reveremunicipalefcu.org for more information.
Dec, 31, 2023 — REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in REVERE, MA with 2 branch locations and about $18.11 million in total assets. Opened 62 years ago in 1962, REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 2,415 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 281 BROADWAY REVERE, MA 02151 |
| Phone: | (781) 286-8116 |
| Fax: | (781) 284-3326 |
| Website: | https://www.reveremunicipalefcu.org |
| Branches: | 2 branch locations |
| Members: | 2,415 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15254 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,108,891 |
| CEO/Manager: | John F Kingston |
| Chairperson: | JOHN W SQUIBB |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,870,112 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,521,505 |
| Unsecured Loans | 1,600,630 |
| Other Loans | 3,835,191 |
| TOTAL LOANS | 7,957,326 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,478 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 145,509 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,108,891 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 268,480 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 640,944 |
| Regular shares | 14,844,153 |
| All Other Shares & Deposits | 1,527,485 |
| TOTAL SHARES & DEPOSITS | 17,012,582 |
| TOTAL LIABILITIES | 17,281,062 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 827,829 |
| TOTAL EQUITY | 827,829 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,108,891 |
| INCOME & EXPENSE | |
| Loan Income | 87,685 |
| Investment Income | 5,123 |
| Other Income | 7,776 |
| Total Employee Compensation & Benefits | 80,644 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 609,877 |
| Non-operating Income & (Expense) | 1,267 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4 |
| Cost of Funds | 3,443 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -589,444 |
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