Dec, 31, 2023 — GFA FEDERAL CREDIT UNION is a federal credit union headquartered in GARDNER, MA with 10 branch locations and about $663.13 million in total assets. Opened 86 years ago in 1938, GFA FEDERAL CREDIT UNION has about 33,051 members and employs 101 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GFA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 229 Parker St GARDNER, MA 01440-3703 |
| Phone: | (978) 632-2542 |
| Fax: | (978) 630-5616 |
| Website: | https://gfafcu.com |
| Branches: | 10 branch locations |
| Members: | 33,051 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $663,131,116 |
| CEO/Manager: | Mark Hettinger |
| Chairperson: | Douglas Delay |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 31,100,785 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 267,262,167 |
| Unsecured Loans | 6,477,809 |
| Other Loans | 63,166,443 |
| TOTAL LOANS | 336,994,546 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,142,920 |
| Land And Building | 17,741,643 |
| Other Fixed Assets | 2,954,402 |
| NCUSIF Deposit | 4,920,964 |
| All Other Assets | 0 |
| TOTAL ASSETS | 663,131,116 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 114,516 |
| Notes & Interest Payable | 66,500,000 |
| Accounts Payable & Other Liabilities | 9,887,524 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 194,392,866 |
| Regular shares | 190,984,782 |
| All Other Shares & Deposits | 170,388,122 |
| TOTAL SHARES & DEPOSITS | 555,765,770 |
| TOTAL LIABILITIES | 632,267,810 |
| Regular Reserve | 0 |
| Other Reserves | -36,635,491 |
| Undivided Earnings | 67,498,797 |
| TOTAL EQUITY | 30,863,306 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 663,131,116 |
| INCOME & EXPENSE | |
| Loan Income | 15,209,781 |
| Investment Income | 5,286,125 |
| Other Income | 3,710,291 |
| Total Employee Compensation & Benefits | 9,356,254 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,564,193 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -426,940 |
| Cost of Funds | 7,623,932 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 463,111 |
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