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GFA FEDERAL CREDIT UNION

Mar, 31, 2021 — GFA FEDERAL CREDIT UNION is a federal credit union headquartered in GARDNER, MA with 10 branch locations and about $642.14 million in total assets. Opened 83 years ago in 1938, GFA FEDERAL CREDIT UNION has about 30,547 members and employs 98 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211383066
Name:GFA FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 468
GARDNER, MA 01440-0468
Phone:(978) 632-2542
Fax:(978) 632-3782
Website:http://gfafcu.com
Branches:10 branch locations
Members:30,547
Credit Union Type:Federal Credit Union
Charter Number:24279
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1938
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$642,143,458
CEO/Manager:Joshua I Brier
Chairperson:Gerald Bankowski

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Commercial Loans
  • Indirect Consumer Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 86,000,871
TOTAL INVESTMENTS 242,562,984
Loans Held for Sale 911,900
 
 Real Estate Loans 203,583,514
 Unsecured Loans 13,015,492
 Other Loans 62,987,129
 TOTAL LOANS 279,766,329
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,165,315
 Land And Building 19,692,758
 Other Fixed Assets 1,857,878
 NCUSIF Deposit 4,254,635
 All Other Assets 9,261,418
  TOTAL ASSETS 642,143,458
LIABILITIES & CAPITAL:  
 Dividends Payable 8,273
 Notes & Interest Payable 23,890,334
 Accounts Payable & Other Liabilities 37,153,915
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 180,137,300
 Regular shares 187,243,605
 All Other Shares & Deposits 154,238,967
  TOTAL SHARES & DEPOSITS 521,619,872
  TOTAL LIABILITIES 582,672,394
 Regular Reserve 4,040,084
 Other Reserves -3,500,658
 Undivided Earnings 58,931,638
  TOTAL EQUITY 59,471,064
  TOTAL LIABILITIES, SHARES, & EQUITY 642,143,458
INCOME & EXPENSE  
 Loan Income 2,838,488
 Investment Income 708,934
 Other Income 726,414
 Total Employee Compensation & Benefits 2,016,633
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,860,259
 Non-operating Income & (Expense) 8,681
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -13,599
 Cost of Funds 672,647
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 869,737
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