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READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Reading, MA with 1 branch location and about $9.05 million in total assets. Opened 46 years ago in 1975, READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION has about 652 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:READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
218 Ash st
Reading, MA 01867
Phone:(781) 942-9019
Fax:(781) 942-9839
Website:https://readingcreditunion.com
Branches:1 branch locations
Members:652
Credit Union Type:Federal Credit Union
Charter Number:21997
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1975
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$9,047,858
CEO/Manager:Edward G OBrien
Chairperson:Joseph R Veno

Call Report

  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Check Cashing

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,577,078
TOTAL INVESTMENTS 3,792,274
Loans Held for Sale 0
 
 Real Estate Loans 561,411
 Unsecured Loans 363,727
 Other Loans 1,711,318
 TOTAL LOANS 2,636,456
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,339
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 69,389
 All Other Assets 0
  TOTAL ASSETS 9,047,858
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 0
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 771,929
 Regular shares 6,920,602
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 7,692,531
  TOTAL LIABILITIES 7,692,531
 Regular Reserve 221,689
 Other Reserves 0
 Undivided Earnings 1,133,638
  TOTAL EQUITY 1,355,327
  TOTAL LIABILITIES, SHARES, & EQUITY 9,047,858
INCOME & EXPENSE  
 Loan Income 34,358
 Investment Income 8,446
 Other Income 1,063
 Total Employee Compensation & Benefits 28,985
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 17,757
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 2,706
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -5,581
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