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BEVERLY MUNICIPAL FEDERAL CREDIT UNION

Mar, 31, 2021 — BEVERLY MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in BEVERLY, MA with 1 branch location and about $13.68 million in total assets. Opened 36 years ago in 1985, BEVERLY MUNICIPAL FEDERAL CREDIT UNION has about 1,536 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:BEVERLY MUNICIPAL FEDERAL CREDIT UNION
Address:
(Main Office)
139 CABOT ST
BEVERLY, MA 01915
Phone:(978) 922-5254
Fax:(978) 922-0491
Website:http://www.beverlycreditunion.com
Branches:1 branch locations
Members:1,536
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$13,680,428
CEO/Manager:John Lane
Chairperson:Virginia Colton

Call Report

  • Credit Builder
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Insurance/Investment Sales

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,566,830
TOTAL INVESTMENTS 3,480,432
Loans Held for Sale 0
 
 Real Estate Loans 3,674,165
 Unsecured Loans 893,683
 Other Loans 2,017,332
 TOTAL LOANS 6,585,180
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -58,002
 Land And Building 0
 Other Fixed Assets 27,863
 NCUSIF Deposit 101,863
 All Other Assets -23,738
  TOTAL ASSETS 13,680,428
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 65,336
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 96,477
 Regular shares 9,045,150
 All Other Shares & Deposits 2,478,589
  TOTAL SHARES & DEPOSITS 11,620,216
  TOTAL LIABILITIES 11,685,552
 Regular Reserve 309,647
 Other Reserves 0
 Undivided Earnings 1,685,229
  TOTAL EQUITY 1,994,876
  TOTAL LIABILITIES, SHARES, & EQUITY 13,680,428
INCOME & EXPENSE  
 Loan Income 74,217
 Investment Income 7,132
 Other Income 4,158
 Total Employee Compensation & Benefits 40,252
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 36,001
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 7,120
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,161
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