Sep, 30, 2025 — THE ANDOVERS FEDERAL CREDIT UNION is a federal credit union headquartered in ANDOVER, MA with 2 branch locations and about $36.56 million in total assets. Opened 62 years ago in 1964, THE ANDOVERS FEDERAL CREDIT UNION has about 2,115 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE ANDOVERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 19C Lupine Rd ANDOVER, MA 01810-3909 |
| Phone: | (978) 475-6133 |
| Fax: | (978) 475-6225 |
| Website: | https://www.andoverfcu.com |
| Branches: | 2 branch locations |
| Members: | 2,115 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16067 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $36,563,583 |
| CEO/Manager: | Lisa M Morelli |
| Chairperson: | Stephen Surette |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,031,504 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,424,875 |
| Unsecured Loans | 1,592,870 |
| Other Loans | 1,617,064 |
| TOTAL LOANS | 8,634,809 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -158,383 |
| Land And Building | 261,111 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 309,743 |
| All Other Assets | 0 |
| TOTAL ASSETS | 36,563,583 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 66,470 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,572,508 |
| Regular shares | 13,351,640 |
| All Other Shares & Deposits | 14,988,366 |
| TOTAL SHARES & DEPOSITS | 31,912,514 |
| TOTAL LIABILITIES | 31,978,984 |
| Regular Reserve | 0 |
| Other Reserves | 540,699 |
| Undivided Earnings | 4,043,900 |
| TOTAL EQUITY | 4,584,599 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 36,563,583 |
| INCOME & EXPENSE | |
| Loan Income | 413,490 |
| Investment Income | 461,597 |
| Other Income | 13,726 |
| Total Employee Compensation & Benefits | 224,622 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 345,057 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -825 |
| Cost of Funds | 213,519 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 170,752 |
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