Dec, 31, 2023 — BELMONT MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in BELMONT, MA with 1 branch location and about $4.19 million in total assets. Opened 84 years ago in 1940, BELMONT MUNICIPAL FEDERAL CREDIT UNION has about 397 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | BELMONT MUNICIPAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 455 Concord Ave BELMONT, MA 02478 |
Phone: | (617) 993-2790 |
Fax: | (617) 993-2601 |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 397 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4192 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1940 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $4,194,626 |
CEO/Manager: | Michael Nasson |
Chairperson: | Michael Santoro |
ASSETS: | $ Amount |
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Cash & Equivalents | 171,704 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,240,400 |
Unsecured Loans | 739,927 |
Other Loans | 699,773 |
TOTAL LOANS | 2,680,099 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -36,516 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 39,881 |
All Other Assets | 0 |
TOTAL ASSETS | 4,194,626 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 15,771 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 3,285,273 |
All Other Shares & Deposits | 149,711 |
TOTAL SHARES & DEPOSITS | 3,434,984 |
TOTAL LIABILITIES | 3,450,755 |
Regular Reserve | 0 |
Other Reserves | 49,420 |
Undivided Earnings | 694,451 |
TOTAL EQUITY | 743,871 |
TOTAL LIABILITIES, SHARES, & EQUITY | 4,194,626 |
INCOME & EXPENSE | |
Loan Income | 147,777 |
Investment Income | 53,732 |
Other Income | 1,333 |
Total Employee Compensation & Benefits | 108,878 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 41,907 |
Non-operating Income & (Expense) | 28,337 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 14,952 |
Cost of Funds | 4,511 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 60,931 |
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