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GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Greenwich, CT with 1 branch location and about $27.59 million in total assets. Opened 52 years ago in 1969, GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 2,045 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:GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
439 West Putnam Avenue
Greenwich, CT 06830
Phone:(203) 869-5280
Fax:(203) 622-7409
Website:http://www.gmefcu.com
Branches:1 branch locations
Members:2,045
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$27,591,931
CEO/Manager:Gail Todd
Chairperson:Joseph H Benoit Jr.

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,858,784
TOTAL INVESTMENTS 16,001,883
Loans Held for Sale 0
 
 Real Estate Loans 1,848,615
 Unsecured Loans 1,984,930
 Other Loans 3,407,670
 TOTAL LOANS 7,241,215
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -59,925
 Land And Building 247,080
 Other Fixed Assets 76,450
 NCUSIF Deposit 204,862
 All Other Assets 21,582
  TOTAL ASSETS 27,591,931
LIABILITIES & CAPITAL:  
 Dividends Payable 3,542
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 207,592
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,523,409
 Regular shares 15,177,991
 All Other Shares & Deposits 4,769,995
  TOTAL SHARES & DEPOSITS 24,471,395
  TOTAL LIABILITIES 24,682,529
 Regular Reserve 290,837
 Other Reserves 0
 Undivided Earnings 2,618,565
  TOTAL EQUITY 2,909,402
  TOTAL LIABILITIES, SHARES, & EQUITY 27,591,931
INCOME & EXPENSE  
 Loan Income 460,489
 Investment Income 323,598
 Other Income 92,509
 Total Employee Compensation & Benefits 462,123
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 250,223
 Non-operating Income & (Expense) 27,976
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 7,000
 Cost of Funds 18,267
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 166,959
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