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MARBLEHEAD MUNICIPAL FEDERAL CREDIT UNION

Mar, 31, 2021 — MARBLEHEAD MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in MARBLEHEAD, MA with 1 branch location and about $11.77 million in total assets. Opened 43 years ago in 1978, MARBLEHEAD MUNICIPAL FEDERAL CREDIT UNION has about 1,331 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:MARBLEHEAD MUNICIPAL FEDERAL CREDIT UNION
Address:
(Main Office)
7 WIDGER RD
MARBLEHEAD, MA 01945
Phone:(781) 631-7356
Fax:(781) 639-8717
Website:n/a
Branches:1 branch locations
Members:1,331
Credit Union Type:Federal Credit Union
Charter Number:23276
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1978
Last Audited:Apr 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$11,770,758
CEO/Manager:James W Gaudette
Chairperson:Dana W Kiernan

Call Report

  • Real Estate Loans
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,079,715
TOTAL INVESTMENTS 3,919,322
Loans Held for Sale 0
 
 Real Estate Loans 136,791
 Unsecured Loans 821,934
 Other Loans 4,721,971
 TOTAL LOANS 5,680,696
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -20,824
 Land And Building 0
 Other Fixed Assets 4,712
 NCUSIF Deposit 96,134
 All Other Assets 11,003
  TOTAL ASSETS 11,770,758
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 14,598
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 7,663,249
 All Other Shares & Deposits 2,286,087
  TOTAL SHARES & DEPOSITS 9,949,336
  TOTAL LIABILITIES 9,963,934
 Regular Reserve 283,245
 Other Reserves 0
 Undivided Earnings 1,523,579
  TOTAL EQUITY 1,806,824
  TOTAL LIABILITIES, SHARES, & EQUITY 11,770,758
INCOME & EXPENSE  
 Loan Income 56,325
 Investment Income 13,216
 Other Income 236
 Total Employee Compensation & Benefits 39,360
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 16,344
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 178
 Cost of Funds 8,085
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 5,810
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