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LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Lowell, MA with 1 branch location and about $6.85 million in total assets. Opened 84 years ago in 1937, LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 1,238 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.


ABA Routing Number: 211383875
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:http://lmefcu.net
Branches:1 branch locations
Members:1,238
Credit Union Type:Federal Credit Union
Charter Number:2065
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1937
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$6,850,774
CEO/Manager:Joseph L Schiappa
Chairperson:Matt Sandelli

Call Report

  • Risk Based Loans

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,773,314
TOTAL INVESTMENTS 1,296,659
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 974,675
 Other Loans 2,740,784
 TOTAL LOANS 3,715,459
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -22,636
 Land And Building 0
 Other Fixed Assets 13,189
 NCUSIF Deposit 53,156
 All Other Assets 21,633
  TOTAL ASSETS 6,850,774
LIABILITIES & CAPITAL:  
 Dividends Payable 16,132
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 0
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 131,269
 Regular shares 5,846,987
 All Other Shares & Deposits 344,619
  TOTAL SHARES & DEPOSITS 6,322,875
  TOTAL LIABILITIES 6,339,007
 Regular Reserve 91,796
 Other Reserves 1,350
 Undivided Earnings 418,621
  TOTAL EQUITY 511,767
  TOTAL LIABILITIES, SHARES, & EQUITY 6,850,774
INCOME & EXPENSE  
 Loan Income 42,633
 Investment Income 2,047
 Other Income 961
 Total Employee Compensation & Benefits 15,755
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 29,946
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,511
 Cost of Funds 2,824
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -4,395
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