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COMMUNITY & TEACHERS FEDERAL CREDIT UNION

Dec, 31, 2023 — COMMUNITY & TEACHERS FEDERAL CREDIT UNION is a federal credit union headquartered in EAST PROVIDENCE, RI with 1 branch location and about $31.12 million in total assets. Opened 63 years ago in 1961, COMMUNITY & TEACHERS FEDERAL CREDIT UNION has about 1,811 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:COMMUNITY & TEACHERS FEDERAL CREDIT UNION
Address:
(Main Office)
1169 S Broadway
EAST PROVIDENCE, RI 02914-4931
Phone:(401) 438-7788
Fax:(401) 431-0431
Website:https://www.teacherscu.org
Branches:1 branch locations
Members:1,811
Credit Union Type:Federal Credit Union
Charter Number:24730
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1961
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$31,124,949
CEO/Manager:Kenneth C Saunders
Chairperson:Barbara J Geraghty

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,784,619
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 19,452,033
 Unsecured Loans 341,424
 Other Loans 1,181,066
 TOTAL LOANS 20,974,523
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -50,861
 Land And Building 914,691
 Other Fixed Assets 9,183
 NCUSIF Deposit 308,413
 All Other Assets 0
  TOTAL ASSETS 31,124,949
LIABILITIES & CAPITAL:  
 Dividends Payable 9,909
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -78,358
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,958,770
 Regular shares 11,843,970
 All Other Shares & Deposits 10,576,660
  TOTAL SHARES & DEPOSITS 28,379,400
  TOTAL LIABILITIES 28,310,951
 Regular Reserve 0
 Other Reserves 146,951
 Undivided Earnings 2,667,047
  TOTAL EQUITY 2,813,998
  TOTAL LIABILITIES, SHARES, & EQUITY 31,124,949
INCOME & EXPENSE  
 Loan Income 956,460
 Investment Income 271,004
 Other Income 38,979
 Total Employee Compensation & Benefits 472,461
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 508,410
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 4,400
 Cost of Funds 95,585
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 261,758
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