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LUSO FEDERAL CREDIT UNION

Mar, 31, 2021 — LUSO FEDERAL CREDIT UNION is a federal credit union headquartered in Ludlow, MA with 2 branch locations and about $240.66 million in total assets. Opened 50 years ago in 1971, LUSO FEDERAL CREDIT UNION has about 8,201 members and employs 37 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211883922
Name:LUSO FEDERAL CREDIT UNION
Address:
(Main Office)
599 East St
Ludlow, MA 01056
Phone:(413) 589-9966
Fax:(413) 583-4491
Website:http://www.lusofederal.com
Branches:2 branch locations
Members:8,201
Credit Union Type:Federal Credit Union
Charter Number:20600
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1971
Last Audited:Aug 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$240,658,282
CEO/Manager:Jennifer G Calheno
Chairperson:Maria F Gomes

Call Report

  • Commercial Loans
  • Credit Builder
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 31,891,749
TOTAL INVESTMENTS 11,333,779
Loans Held for Sale 0
 
 Real Estate Loans 180,438,799
 Unsecured Loans 2,848,311
 Other Loans 9,025,197
 TOTAL LOANS 192,334,991
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,451,014
 Land And Building 2,847,352
 Other Fixed Assets 217,088
 NCUSIF Deposit 1,794,428
 All Other Assets 1,689,909
  TOTAL ASSETS 240,658,282
LIABILITIES & CAPITAL:  
 Dividends Payable 36,849
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 764,082
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 28,645,309
 Regular shares 64,139,531
 All Other Shares & Deposits 120,937,827
  TOTAL SHARES & DEPOSITS 213,722,667
  TOTAL LIABILITIES 214,523,598
 Regular Reserve 1,736,121
 Other Reserves 0
 Undivided Earnings 24,398,563
  TOTAL EQUITY 26,134,684
  TOTAL LIABILITIES, SHARES, & EQUITY 240,658,282
INCOME & EXPENSE  
 Loan Income 1,718,035
 Investment Income 24,660
 Other Income 103,200
 Total Employee Compensation & Benefits 653,074
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 595,233
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -24,722
 Cost of Funds 433,582
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 302,998
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