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MEDFORD MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

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
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
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

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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