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HEALTH ALLIANCE FEDERAL CREDIT UNION

Mar, 31, 2021 — HEALTH ALLIANCE FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $5.98 million in total assets. Opened 55 years ago in 1966, HEALTH ALLIANCE FEDERAL CREDIT UNION has about 1,276 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:HEALTH ALLIANCE FEDERAL CREDIT UNION
Address:
(Main Office)
230 HIGHLAND AVE
SOMERVILLE, MA 02143-1408
Phone:(617) 591-6709
Fax:(617) 591-6711
Website:http://www.myhacu.org
Branches:1 branch locations
Members:1,276
Credit Union Type:Federal Credit Union
Charter Number:17679
Membership Type:Service - Health Care
Corporate Credit Union:No
Year Opened:1966
Last Audited:Mar 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$5,976,298
CEO/Manager:Jacqueline A Kumpa
Chairperson:John Colbert

Call Report

  • Credit Builder
  • Micro Consumer Loans
  • Overdraft Protection
  • Pay Day Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • Commercial Share Accounts

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 718,644
TOTAL INVESTMENTS 2,452,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 941,169
 Other Loans 1,889,058
 TOTAL LOANS 2,830,227
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -83,479
 Land And Building 0
 Other Fixed Assets 3,179
 NCUSIF Deposit 42,901
 All Other Assets 12,826
  TOTAL ASSETS 5,976,298
LIABILITIES & CAPITAL:  
 Dividends Payable 6,408
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 10,173
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 51,865
 Regular shares 4,623,520
 All Other Shares & Deposits 747,961
  TOTAL SHARES & DEPOSITS 5,423,346
  TOTAL LIABILITIES 5,439,927
 Regular Reserve 60,690
 Other Reserves 0
 Undivided Earnings 475,681
  TOTAL EQUITY 536,371
  TOTAL LIABILITIES, SHARES, & EQUITY 5,976,298
INCOME & EXPENSE  
 Loan Income 47,538
 Investment Income 6,246
 Other Income 3,690
 Total Employee Compensation & Benefits 29,153
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 12,061
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,750
 Cost of Funds 2,591
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 10,065
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