Sep, 30, 2025 — SOMERVILLE SCHOOL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $22.53 million in total assets. Opened 87 years ago in 1939, SOMERVILLE SCHOOL EMPLOYEES FEDERAL CREDIT UNION has about 1,810 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: | SOMERVILLE SCHOOL EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 100 Highland Ave SOMERVILLE, MA 02143 |
| Phone: | (617) 625-8411 |
| Fax: | (617) 623-2594 |
| Website: | https://www.ssefcu.org |
| Branches: | 1 branch locations |
| Members: | 1,810 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3475 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Nov 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $22,530,598 |
| CEO/Manager: | Brenna Geanacopoulos |
| Chairperson: | Paula J Gaffey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 579,473 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,045,724 |
| Unsecured Loans | 576,351 |
| Other Loans | 2,410,341 |
| TOTAL LOANS | 9,032,415 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -46,529 |
| Land And Building | 530,377 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 202,218 |
| All Other Assets | 0 |
| TOTAL ASSETS | 22,530,598 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,158 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 21,535 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,883,612 |
| Regular shares | 8,105,388 |
| All Other Shares & Deposits | 8,631,004 |
| TOTAL SHARES & DEPOSITS | 18,620,004 |
| TOTAL LIABILITIES | 18,642,697 |
| Regular Reserve | 0 |
| Other Reserves | 3,292,962 |
| Undivided Earnings | 594,939 |
| TOTAL EQUITY | 3,887,901 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 22,530,598 |
| INCOME & EXPENSE | |
| Loan Income | 304,144 |
| Investment Income | 319,682 |
| Other Income | 9,015 |
| Total Employee Compensation & Benefits | 239,844 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 218,892 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 155,977 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 18,128 |
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