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STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in STONEHAM, MA with 3 branch locations and about $58.36 million in total assets. Opened 58 years ago in 1963, STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,994 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.


ABA Routing Number: 211386005
Name:STONEHAM MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
40 PINE ST
STONEHAM, MA 02180-2048
Phone:(781) 438-3959
Fax:(781) 438-6224
Website:http://www.smefcu.org
Branches:3 branch locations
Members:3,994
Credit Union Type:Federal Credit Union
Charter Number:15393
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1963
Last Audited:Sep 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$58,362,543
CEO/Manager:Ann Marie Waugh
Chairperson:Anita Woodland

Call Report

  • Credit Builder
  • Overdraft Lines of Credit
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,435,748
TOTAL INVESTMENTS 28,064,315
Loans Held for Sale 0
 
 Real Estate Loans 15,740,595
 Unsecured Loans 1,817,807
 Other Loans 4,335,331
 TOTAL LOANS 21,893,733
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -92,642
 Land And Building 121,933
 Other Fixed Assets 24,076
 NCUSIF Deposit 477,953
 All Other Assets 1,437,427
  TOTAL ASSETS 58,362,543
LIABILITIES & CAPITAL:  
 Dividends Payable 2,750
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 124,848
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,426,132
 Regular shares 38,708,268
 All Other Shares & Deposits 3,132,564
  TOTAL SHARES & DEPOSITS 51,266,964
  TOTAL LIABILITIES 51,394,562
 Regular Reserve 669,976
 Other Reserves 2,777,435
 Undivided Earnings 3,520,570
  TOTAL EQUITY 6,967,981
  TOTAL LIABILITIES, SHARES, & EQUITY 58,362,543
INCOME & EXPENSE  
 Loan Income 906,205
 Investment Income 510,394
 Other Income 182,780
 Total Employee Compensation & Benefits 630,889
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 591,286
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -42,941
 Cost of Funds 93,366
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 326,779
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