Dec, 31, 2023 — MEDFORD MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in MEDFORD, MA with 1 branch location and about $7.48 million in total assets. Opened 87 years ago in 1937, MEDFORD MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 798 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: | MEDFORD MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
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Address: (Main Office) | 85 GEORGE P HASSETT DR RM 200 MEDFORD, MA 02155-3256 |
Phone: | (781) 393-2458 |
Fax: | (781) 393-2456 |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 798 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24615 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1937 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $7,478,850 |
CEO/Manager: | TANYA I ARRUDA |
Chairperson: | Jeffrey Fargo |
ASSETS: | $ Amount |
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Cash & Equivalents | 83,718 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 1,243,621 |
Other Loans | 1,202,003 |
TOTAL LOANS | 2,445,624 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,119 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 68,461 |
All Other Assets | 0 |
TOTAL ASSETS | 7,478,850 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 50,000 |
Accounts Payable & Other Liabilities | 12,840 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 5,725,584 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 5,725,585 |
TOTAL LIABILITIES | 5,788,425 |
Regular Reserve | 0 |
Other Reserves | 130,408 |
Undivided Earnings | 1,560,017 |
TOTAL EQUITY | 1,690,425 |
TOTAL LIABILITIES, SHARES, & EQUITY | 7,478,850 |
INCOME & EXPENSE | |
Loan Income | 164,259 |
Investment Income | 88,368 |
Other Income | 0 |
Total Employee Compensation & Benefits | 117,905 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 103,359 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 40,003 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -8,640 |
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