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CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2022 — CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in CUMBERLAND, RI with 1 branch location and about $8.47 million in total assets. Opened 60 years ago in 1962, CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 987 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
2145 Diamond Hill Rd
CUMBERLAND, RI 02864-5135
Phone:(401) 658-0010
Fax:(401) 658-0099
Website:http://www.cumberlandcu.org
Branches:1 branch locations
Members:987
Credit Union Type:Federal Credit Union
Charter Number:24486
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1962
Last Audited:Mar 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$8,472,469
CEO/Manager:Holly L Ayick
Chairperson:Geroge Stansfield

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 891,180
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 420,876
 Other Loans 2,673,008
 TOTAL LOANS 3,093,884
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,097
 Land And Building 0
 Other Fixed Assets 943
 NCUSIF Deposit 58,587
 All Other Assets 0
  TOTAL ASSETS 8,472,469
LIABILITIES & CAPITAL:  
 Dividends Payable 5,942
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,418
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 2,648,592
 All Other Shares & Deposits 4,292,425
  TOTAL SHARES & DEPOSITS 6,941,017
  TOTAL LIABILITIES 6,953,377
 Regular Reserve 0
 Other Reserves 393,330
 Undivided Earnings 1,125,762
  TOTAL EQUITY 1,519,092
  TOTAL LIABILITIES, SHARES, & EQUITY 8,472,469
INCOME & EXPENSE  
 Loan Income 33,406
 Investment Income 8,756
 Other Income 1,811
 Total Employee Compensation & Benefits 27,988
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 17,807
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 3,604
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -5,426
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