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MILLBURY FEDERAL CREDIT UNION

Jun, 30, 2021 — MILLBURY FEDERAL CREDIT UNION is a federal credit union headquartered in Millbury, MA with 5 branch locations and about $445.31 million in total assets. Opened 87 years ago in 1934, MILLBURY FEDERAL CREDIT UNION has about 33,507 members and employs 91 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MILLBURY FEDERAL CREDIT UNION
Address:
(Main Office)
50 Main St
Millbury, MA 01527
Phone:(508) 865-7600
Fax:(508) 865-8701
Website:https://www.millburycu.com
Branches:5 branch locations
Members:33,507
Credit Union Type:Federal Credit Union
Charter Number:24543
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1934
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$445,309,952
CEO/Manager:Joseph F Barbato
Chairperson:Robert L LeClaire

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 37,351,216
TOTAL INVESTMENTS 70,144,565
Loans Held for Sale 1,565,512
 
 Real Estate Loans 172,332,815
 Unsecured Loans 11,820,733
 Other Loans 125,143,425
 TOTAL LOANS 320,901,684
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,640,287
 Land And Building 3,986,296
 Other Fixed Assets 1,213,662
 NCUSIF Deposit 3,421,788
 All Other Assets 8,365,516
  TOTAL ASSETS 445,309,952
LIABILITIES & CAPITAL:  
 Dividends Payable 953
 Notes & Interest Payable 288,307
 Accounts Payable & Other Liabilities 1,108,015
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 123,397,072
 Regular shares 128,507,608
 All Other Shares & Deposits 158,378,687
  TOTAL SHARES & DEPOSITS 410,283,367
  TOTAL LIABILITIES 411,680,642
 Regular Reserve 3,296,604
 Other Reserves -629,794
 Undivided Earnings 30,962,500
  TOTAL EQUITY 33,629,310
  TOTAL LIABILITIES, SHARES, & EQUITY 445,309,952
INCOME & EXPENSE  
 Loan Income 5,879,395
 Investment Income 566,189
 Other Income 1,810,081
 Total Employee Compensation & Benefits 3,142,215
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,563,257
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 118,907
 Cost of Funds 649,509
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,885,994
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