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REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in REVERE, MA with 2 branch locations and about $17.10 million in total assets. Opened 59 years ago in 1962, REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 2,227 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.


ABA Routing Number: 211385378
Name:REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
281 BROADWAY
REVERE, MA 02151
Phone:(781) 286-8116
Fax:(781) 284-3326
Website:http://www.reveremunicipalefcu.org
Branches:2 branch locations
Members:2,227
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$17,098,677
CEO/Manager:John F Kingston
Chairperson:JOHN W SQUIBB

Call Report

  • Real Estate Loans
  • ATM/Debit Card Program
  • In-School Branches
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,838,927
TOTAL INVESTMENTS 1,699,850
Loans Held for Sale 0
 
 Real Estate Loans 2,749,126
 Unsecured Loans 1,709,826
 Other Loans 3,960,669
 TOTAL LOANS 8,419,621
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -64,242
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 145,509
 All Other Assets 59,012
  TOTAL ASSETS 17,098,677
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 22,025
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 665,082
 Regular shares 12,853,719
 All Other Shares & Deposits 2,093,702
  TOTAL SHARES & DEPOSITS 15,612,503
  TOTAL LIABILITIES 15,634,528
 Regular Reserve 227,863
 Other Reserves 0
 Undivided Earnings 1,236,286
  TOTAL EQUITY 1,464,149
  TOTAL LIABILITIES, SHARES, & EQUITY 17,098,677
INCOME & EXPENSE  
 Loan Income 104,093
 Investment Income 6,623
 Other Income 9,850
 Total Employee Compensation & Benefits 64,783
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 58,974
 Non-operating Income & (Expense) 1,140
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 7,556
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -9,607
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