Dec, 31, 2023 — NORTHEAST FAMILY FEDERAL CREDIT UNION is a federal credit union headquartered in MANCHESTER, CT with 3 branch locations and about $103.69 million in total assets. Opened 86 years ago in 1938, NORTHEAST FAMILY FEDERAL CREDIT UNION has about 5,965 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NORTHEAST FAMILY FEDERAL CREDIT UNION |
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Address: (Main Office) | 233 Main St MANCHESTER, CT 06042-3539 |
Phone: | (860) 646-8870 |
Fax: | (860) 647-7966 |
Website: | https://www.nefamily.coop |
Branches: | 3 branch locations |
Members: | 5,965 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2709 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $103,692,819 |
CEO/Manager: | Joanne S Todd |
Chairperson: | Joshua C Lewis |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,962,243 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 26,396,435 |
Unsecured Loans | 4,355,673 |
Other Loans | 8,632,727 |
TOTAL LOANS | 39,384,835 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -455,404 |
Land And Building | 576,716 |
Other Fixed Assets | 27,355 |
NCUSIF Deposit | 954,484 |
All Other Assets | 0 |
TOTAL ASSETS | 103,692,819 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 2,020,000 |
Accounts Payable & Other Liabilities | 831,815 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 19,753,208 |
Regular shares | 43,638,611 |
All Other Shares & Deposits | 27,496,843 |
TOTAL SHARES & DEPOSITS | 90,888,662 |
TOTAL LIABILITIES | 93,740,477 |
Regular Reserve | 0 |
Other Reserves | -818,902 |
Undivided Earnings | 10,771,244 |
TOTAL EQUITY | 9,952,342 |
TOTAL LIABILITIES, SHARES, & EQUITY | 103,692,819 |
INCOME & EXPENSE | |
Loan Income | 1,726,228 |
Investment Income | 1,411,177 |
Other Income | 345,610 |
Total Employee Compensation & Benefits | 1,422,894 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,504,001 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 58,251 |
Cost of Funds | 218,292 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 671,093 |
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» See also Statement of Financial Condition