Dec, 31, 2023 — SOMERVILLE SCHOOL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $24.44 million in total assets. Opened 85 years ago in 1939, SOMERVILLE SCHOOL EMPLOYEES FEDERAL CREDIT UNION has about 1,760 members 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 |
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Address: (Main Office) | 100 Highland Ave SOMERVILLE, MA 02143 |
Phone: | (617) 625-8411 |
Fax: | (617) 623-2594 |
Website: | https://ssefcu.org |
Branches: | 1 branch locations |
Members: | 1,760 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 3475 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1939 |
Last Audited: | Nov 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $24,437,570 |
CEO/Manager: | Brenna Geanacopoulos |
Chairperson: | Paula J Gaffey |
ASSETS: | $ Amount |
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Cash & Equivalents | 497,583 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 3,863,914 |
Unsecured Loans | 638,223 |
Other Loans | 1,645,692 |
TOTAL LOANS | 6,147,829 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -43,172 |
Land And Building | 557,677 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 231,637 |
All Other Assets | 0 |
TOTAL ASSETS | 24,437,570 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,687 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 4,505 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,714,641 |
Regular shares | 9,997,116 |
All Other Shares & Deposits | 8,952,459 |
TOTAL SHARES & DEPOSITS | 20,664,216 |
TOTAL LIABILITIES | 20,672,408 |
Regular Reserve | 0 |
Other Reserves | 3,292,962 |
Undivided Earnings | 472,200 |
TOTAL EQUITY | 3,765,162 |
TOTAL LIABILITIES, SHARES, & EQUITY | 24,437,570 |
INCOME & EXPENSE | |
Loan Income | 225,929 |
Investment Income | 395,416 |
Other Income | 13,056 |
Total Employee Compensation & Benefits | 301,750 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 301,196 |
Non-operating Income & (Expense) | 47,904 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,000 |
Cost of Funds | 56,714 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 16,645 |
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