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GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in GREENWICH, CT with 1 branch location and about $31.18 million in total assets. Opened 55 years ago in 1969, GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 2,076 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
439 W Putnam Ave
GREENWICH, CT 06830-1053
Phone:(203) 869-5280
Fax:(203) 622-7409
Website:https://www.gmefcu.com
Branches:1 branch locations
Members:2,076
Credit Union Type:Federal Credit Union
Charter Number:19203
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1969
Last Audited:Oct 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$31,180,819
CEO/Manager:Gail Todd
Chairperson:Joseph H Benoit Jr.

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,988,685
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,980,573
 Unsecured Loans 2,273,842
 Other Loans 5,487,547
 TOTAL LOANS 9,741,963
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -102,202
 Land And Building 214,927
 Other Fixed Assets 47,000
 NCUSIF Deposit 274,719
 All Other Assets 0
  TOTAL ASSETS 31,180,819
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 233,031
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,321,437
 Regular shares 17,491,593
 All Other Shares & Deposits 4,538,463
  TOTAL SHARES & DEPOSITS 27,351,492
  TOTAL LIABILITIES 27,584,523
 Regular Reserve 0
 Other Reserves 290,837
 Undivided Earnings 3,305,459
  TOTAL EQUITY 3,596,296
  TOTAL LIABILITIES, SHARES, & EQUITY 31,180,819
INCOME & EXPENSE  
 Loan Income 587,219
 Investment Income 493,041
 Other Income 57,711
 Total Employee Compensation & Benefits 538,910
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 301,730
 Non-operating Income & (Expense) 27,180
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 27,737
 Cost of Funds 33,003
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 325,761
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