Dec, 31, 2023 — STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in STONEHAM, MA with 3 branch locations and about $62.48 million in total assets. Opened 61 years ago in 1963, STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,930 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
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Address: (Main Office) | 40 Pine St STONEHAM, MA 02180-2048 |
Phone: | (781) 438-3959 |
Fax: | (781) 438-6224 |
Website: | https://www.smefcu.org |
Branches: | 3 branch locations |
Members: | 3,930 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15393 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1963 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $62,476,783 |
CEO/Manager: | Ann Marie Waugh |
Chairperson: | Anita Woodland |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,738,122 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 14,392,756 |
Unsecured Loans | 1,757,538 |
Other Loans | 4,803,741 |
TOTAL LOANS | 20,954,035 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -95,612 |
Land And Building | 506,532 |
Other Fixed Assets | 98,640 |
NCUSIF Deposit | 539,079 |
All Other Assets | 0 |
TOTAL ASSETS | 62,476,783 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 31 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 208,337 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 10,112,852 |
Regular shares | 38,692,974 |
All Other Shares & Deposits | 4,955,581 |
TOTAL SHARES & DEPOSITS | 53,761,407 |
TOTAL LIABILITIES | 53,969,775 |
Regular Reserve | 0 |
Other Reserves | 3,788,293 |
Undivided Earnings | 4,718,715 |
TOTAL EQUITY | 8,507,008 |
TOTAL LIABILITIES, SHARES, & EQUITY | 62,476,783 |
INCOME & EXPENSE | |
Loan Income | 827,443 |
Investment Income | 990,118 |
Other Income | 160,333 |
Total Employee Compensation & Benefits | 738,296 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 701,649 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -6,556 |
Cost of Funds | 136,431 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 437,164 |
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» See also Statement of Financial Condition