Jun, 30, 2024 — CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in CUMBERLAND, RI with 1 branch location and about $8.71 million in total assets. Opened 63 years ago in 1962, CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 942 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 |
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Address: (Main Office) | 2145 Diamond Hill Rd CUMBERLAND, RI 02864-5135 |
Phone: | (401) 658-0010 |
Fax: | (401) 658-0099 |
Website: | https://www.cumberlandcu.org |
Branches: | 1 branch locations |
Members: | 942 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24486 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Mar 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $8,706,484 |
CEO/Manager: | Holly L Ayick |
Chairperson: | Geroge Stansfield |
ASSETS: | $ Amount |
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Cash & Equivalents | 591,570 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 401,214 |
Other Loans | 3,075,595 |
TOTAL LOANS | 3,476,809 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,261 |
Land And Building | 0 |
Other Fixed Assets | 762 |
NCUSIF Deposit | 61,990 |
All Other Assets | 0 |
TOTAL ASSETS | 8,706,484 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,772 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 4,107 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 3,127,798 |
All Other Shares & Deposits | 4,041,613 |
TOTAL SHARES & DEPOSITS | 7,169,411 |
TOTAL LIABILITIES | 7,176,290 |
Regular Reserve | 0 |
Other Reserves | 393,330 |
Undivided Earnings | 1,136,864 |
TOTAL EQUITY | 1,530,194 |
TOTAL LIABILITIES, SHARES, & EQUITY | 8,706,484 |
INCOME & EXPENSE | |
Loan Income | 105,992 |
Investment Income | 35,153 |
Other Income | 4,103 |
Total Employee Compensation & Benefits | 83,506 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 54,383 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -8,000 |
Cost of Funds | 9,808 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 5,551 |
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