PREMIER SOURCE FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.bankatpremiersource.com for more information.
Dec, 31, 2023 — PREMIER SOURCE FEDERAL CREDIT UNION is a federal credit union headquartered in East Longmeadow, MA with 1 branch location and about $70.33 million in total assets. Opened 83 years ago in 1941, PREMIER SOURCE FEDERAL CREDIT UNION has about 4,426 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PREMIER SOURCE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 232 N MAIN ST East Longmeadow, MA 01028-1844 |
| Phone: | (413) 525-2002 |
| Fax: | (413) 525-4718 |
| Website: | https://www.bankatpremiersource.com |
| Branches: | 1 branch locations |
| Members: | 4,426 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24912 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $70,333,338 |
| CEO/Manager: | Bonnie J Raymond |
| Chairperson: | Richard A Grabiec |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,392,669 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,373,553 |
| Unsecured Loans | 3,378,623 |
| Other Loans | 8,489,483 |
| TOTAL LOANS | 29,243,532 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -550,044 |
| Land And Building | 1,628,155 |
| Other Fixed Assets | 132,174 |
| NCUSIF Deposit | 593,788 |
| All Other Assets | 0 |
| TOTAL ASSETS | 70,333,338 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 661 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 343,807 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,495,109 |
| Regular shares | 28,989,776 |
| All Other Shares & Deposits | 25,911,714 |
| TOTAL SHARES & DEPOSITS | 62,396,599 |
| TOTAL LIABILITIES | 62,741,067 |
| Regular Reserve | 0 |
| Other Reserves | 640,522 |
| Undivided Earnings | 6,951,749 |
| TOTAL EQUITY | 7,592,271 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 70,333,338 |
| INCOME & EXPENSE | |
| Loan Income | 438,567 |
| Investment Income | 124,931 |
| Other Income | 76,129 |
| Total Employee Compensation & Benefits | 273,241 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 370,345 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -48,567 |
| Cost of Funds | 29,006 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 106,685 |
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