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NORWOOD TOWN EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — NORWOOD TOWN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in NORWOOD, MA with 1 branch location and about $6.29 million in total assets. Opened 56 years ago in 1965, NORWOOD TOWN EMPLOYEES FEDERAL CREDIT UNION has about 853 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:NORWOOD TOWN EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 340
NORWOOD, MA 02062-4330
Phone:(781) 769-5169
Fax:(781) 769-7818
Website:http://norwoodcreditunion.com
Branches:1 branch locations
Members:853
Credit Union Type:Federal Credit Union
Charter Number:17112
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1965
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$6,288,410
CEO/Manager:DONNA S GRANT
Chairperson:PAUL A BISHOP

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 816,971
TOTAL INVESTMENTS 2,482,678
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,057,969
 Other Loans 1,900,691
 TOTAL LOANS 2,958,660
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -11,088
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 41,189
 All Other Assets 0
  TOTAL ASSETS 6,288,410
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 0
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 4,914,902
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 4,914,902
  TOTAL LIABILITIES 4,914,902
 Regular Reserve 62,176
 Other Reserves 0
 Undivided Earnings 1,311,332
  TOTAL EQUITY 1,373,508
  TOTAL LIABILITIES, SHARES, & EQUITY 6,288,410
INCOME & EXPENSE  
 Loan Income 178,904
 Investment Income 41,835
 Other Income 6,417
 Total Employee Compensation & Benefits 92,879
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 72,693
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -17,800
 Cost of Funds 14,650
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 64,734
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