Sep, 30, 2025 — BEVERLY MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in BEVERLY, MA with 1 branch location and about $25.92 million in total assets. Opened 41 years ago in 1985, BEVERLY MUNICIPAL FEDERAL CREDIT UNION has about 1,875 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.
| Name: | BEVERLY MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 139 Cabot St BEVERLY, MA 01915 |
| Phone: | (978) 922-5254 |
| Fax: | (978) 922-0491 |
| Website: | https://www.beverlycreditunion.com |
| Branches: | 1 branch locations |
| Members: | 1,875 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24192 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1985 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $25,919,719 |
| CEO/Manager: | Thomas F Hankard |
| Chairperson: | Virginia Colton |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,133,045 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,328,700 |
| Unsecured Loans | 3,243,450 |
| Other Loans | 4,771,259 |
| TOTAL LOANS | 18,343,410 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -27,693 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 205,912 |
| All Other Assets | 0 |
| TOTAL ASSETS | 25,919,719 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 23,123 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 604,675 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 444,830 |
| Regular shares | 7,019,345 |
| All Other Shares & Deposits | 15,727,667 |
| TOTAL SHARES & DEPOSITS | 23,191,841 |
| TOTAL LIABILITIES | 23,819,639 |
| Regular Reserve | 0 |
| Other Reserves | 309,647 |
| Undivided Earnings | 1,790,433 |
| TOTAL EQUITY | 2,100,080 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 25,919,719 |
| INCOME & EXPENSE | |
| Loan Income | 742,766 |
| Investment Income | 240,315 |
| Other Income | 16,402 |
| Total Employee Compensation & Benefits | 198,200 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 245,120 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,177 |
| Cost of Funds | 473,430 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 91,490 |
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