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MORTON FEDERAL CREDIT UNION

Mar, 31, 2021 — MORTON FEDERAL CREDIT UNION is a federal credit union headquartered in taunton, MA with 1 branch location and about $10.01 million in total assets. Opened 43 years ago in 1978, MORTON FEDERAL CREDIT UNION has about 1,105 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:MORTON FEDERAL CREDIT UNION
Address:
(Main Office)
88 washington st
taunton, MA 02780-2465
Phone:(508) 828-7036
Fax:(508) 880-0448
Website:http://mortonfedcu.com
Branches:1 branch locations
Members:1,105
Credit Union Type:Federal Credit Union
Charter Number:24511
Membership Type:Multiple common bond - Primarily health care
Corporate Credit Union:No
Year Opened:1978
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$10,005,700
CEO/Manager:kathleen m baran
Chairperson:gary grace

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,069,898
TOTAL INVESTMENTS 4,382,858
Loans Held for Sale 0
 
 Real Estate Loans 1,813,478
 Unsecured Loans 545,167
 Other Loans 715,076
 TOTAL LOANS 3,436,738
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,730
 Land And Building 9,019
 Other Fixed Assets 0
 NCUSIF Deposit 72,663
 All Other Assets 39,254
  TOTAL ASSETS 10,005,700
LIABILITIES & CAPITAL:  
 Dividends Payable 1,730
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 7,361
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 938,164
 Regular shares 5,654,834
 All Other Shares & Deposits 2,489,378
  TOTAL SHARES & DEPOSITS 9,082,376
  TOTAL LIABILITIES 9,091,467
 Regular Reserve 497,533
 Other Reserves 0
 Undivided Earnings 416,700
  TOTAL EQUITY 914,233
  TOTAL LIABILITIES, SHARES, & EQUITY 10,005,700
INCOME & EXPENSE  
 Loan Income 36,204
 Investment Income 10,615
 Other Income 6,693
 Total Employee Compensation & Benefits 27,213
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 46,355
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,466
 Cost of Funds 3,428
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -26,682
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