Sep, 30, 2025 — LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in LOWELL, MA with 1 branch location and about $8.51 million in total assets. Opened 89 years ago in 1937, LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 1,300 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 375 Merrimack St LOWELL, MA 01852-5909 |
| Phone: | (978) 970-4088 |
| Fax: | (978) 446-7022 |
| Website: | https://www.lmefcu.net |
| Branches: | 1 branch locations |
| Members: | 1,300 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2065 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,508,785 |
| CEO/Manager: | Joseph L Schiappa |
| Chairperson: | Steven Nocco |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,097,893 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,166,180 |
| Other Loans | 4,127,867 |
| TOTAL LOANS | 5,294,047 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -23,458 |
| Land And Building | 0 |
| Other Fixed Assets | 8,774 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 67,632 |
| All Other Assets | 0 |
| TOTAL ASSETS | 8,508,785 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,862 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 16,922 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 171,555 |
| Regular shares | 4,857,714 |
| All Other Shares & Deposits | 2,795,144 |
| TOTAL SHARES & DEPOSITS | 7,824,413 |
| TOTAL LIABILITIES | 7,846,197 |
| Regular Reserve | 0 |
| Other Reserves | 91,796 |
| Undivided Earnings | 570,792 |
| TOTAL EQUITY | 662,588 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,508,785 |
| INCOME & EXPENSE | |
| Loan Income | 252,954 |
| Investment Income | 61,260 |
| Other Income | 5,174 |
| Total Employee Compensation & Benefits | 93,776 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 122,532 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 69,358 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 34,176 |
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