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COMMON TRUST FEDERAL CREDIT UNION

Dec, 31, 2020 — COMMON TRUST FEDERAL CREDIT UNION is a federal credit union headquartered in WOBURN, MA with 0 branch location and about $51.69 million in total assets. Opened 55 years ago in 1966, COMMON TRUST FEDERAL CREDIT UNION has about 3,016 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:COMMON TRUST FEDERAL CREDIT UNION
Address:
(Main Office)
8 CEDAR ST
WOBURN, MA 01801-7246
Phone:(781) 933-2600
Fax:(781) 933-3621
Website:http://www.commontrustfcu.org
Branches:0 branch locations
Members:3,016
Credit Union Type:Federal Credit Union
Charter Number:17847
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1966
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$51,686,037
CEO/Manager:James M McCorkle
Chairperson:Kathleen McSweeney

Call Report

  • Credit Builder
  • Overdraft Lines of Credit
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,815,049
TOTAL INVESTMENTS 15,124,278
Loans Held for Sale 0
 
 Real Estate Loans 14,907,414
 Unsecured Loans 3,887,406
 Other Loans 5,191,634
 TOTAL LOANS 23,986,454
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -126,525
 Land And Building 0
 Other Fixed Assets 132,494
 NCUSIF Deposit 377,258
 All Other Assets 4,377,029
  TOTAL ASSETS 51,686,037
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 160,240
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,949,163
 Regular shares 23,368,388
 All Other Shares & Deposits 17,782,054
  TOTAL SHARES & DEPOSITS 47,099,605
  TOTAL LIABILITIES 47,259,845
 Regular Reserve 766,388
 Other Reserves 261,284
 Undivided Earnings 3,398,520
  TOTAL EQUITY 4,426,192
  TOTAL LIABILITIES, SHARES, & EQUITY 51,686,037
INCOME & EXPENSE  
 Loan Income 986,824
 Investment Income 354,698
 Other Income 447,994
 Total Employee Compensation & Benefits 623,418
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 845,853
 Non-operating Income & (Expense) 32,300
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 46,873
 Cost of Funds 137,228
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 168,444
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