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National Credit Union Service Organization

READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Reading, MA with 1 branch location and about $9.37 million in total assets. Opened 46 years ago in 1975, READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION has about 688 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:688
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$9,367,787
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 2,695,236
TOTAL INVESTMENTS 3,992,274
Loans Held for Sale 0
 
 Real Estate Loans 687,963
 Unsecured Loans 340,857
 Other Loans 1,609,408
 TOTAL LOANS 2,638,228
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,340
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 69,389
 All Other Assets 0
  TOTAL ASSETS 9,367,787
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 1,194,037
 Regular shares 6,812,842
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 8,006,879
  TOTAL LIABILITIES 8,006,879
 Regular Reserve 221,689
 Other Reserves 0
 Undivided Earnings 1,139,219
  TOTAL EQUITY 1,360,908
  TOTAL LIABILITIES, SHARES, & EQUITY 9,367,787
INCOME & EXPENSE  
 Loan Income 158,937
 Investment Income 70,033
 Other Income 4,376
 Total Employee Compensation & Benefits 120,337
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 67,838
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,500
 Cost of Funds 12,319
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 12,352
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