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National Credit Union Service Organization

WAKEFIELD TOWN EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — WAKEFIELD TOWN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in WAKEFIELD, MA with 1 branch location and about $4.16 million in total assets. Opened 54 years ago in 1967, WAKEFIELD TOWN EMPLOYEES FEDERAL CREDIT UNION has about 638 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:WAKEFIELD TOWN EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 571
WAKEFIELD, MA 01880
Phone:(781) 245-9331
Fax:(781) 246-9652
Website:n/a
Branches:1 branch locations
Members:638
Credit Union Type:Federal Credit Union
Charter Number:17870
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1967
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$4,161,075
CEO/Manager:Paula Whittemore
Chairperson:Donna Brehaut

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 182,196
TOTAL INVESTMENTS 2,412,532
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 191,257
 Other Loans 1,243,318
 TOTAL LOANS 1,434,575
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -8,092
 Land And Building 7,944
 Other Fixed Assets 825
 NCUSIF Deposit 30,782
 All Other Assets 100,313
  TOTAL ASSETS 4,161,075
LIABILITIES & CAPITAL:  
 Dividends Payable 1,310
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 96,954
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,478,479
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 3,478,479
  TOTAL LIABILITIES 3,576,743
 Regular Reserve 76,930
 Other Reserves 0
 Undivided Earnings 507,402
  TOTAL EQUITY 584,332
  TOTAL LIABILITIES, SHARES, & EQUITY 4,161,075
INCOME & EXPENSE  
 Loan Income 62,608
 Investment Income 39,695
 Other Income 0
 Total Employee Compensation & Benefits 44,725
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 36,880
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 5,037
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 15,661
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