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BELMONT MUNICIPAL FEDERAL CREDIT UNION

Dec, 31, 2020 — BELMONT MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in BELMONT, MA with 1 branch location and about $4.78 million in total assets. Opened 81 years ago in 1940, BELMONT MUNICIPAL FEDERAL CREDIT UNION has about 413 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
Address:
(Main Office)
PO BOX 56
BELMONT, MA 02478
Phone:(617) 993-2790
Fax:(617) 993-2601
Website:n/a
Branches:1 branch locations
Members:413
Credit Union Type:Federal Credit Union
Charter Number:4192
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1940
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$4,776,557
CEO/Manager:Michael Nasson
Chairperson:Gerard E Benoit

Call Report

  • Credit Builder
  • Real Estate Loans

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,009,728
TOTAL INVESTMENTS 1,993,414
Loans Held for Sale 0
 
 Real Estate Loans 767,831
 Unsecured Loans 802,551
 Other Loans 196,246
 TOTAL LOANS 1,766,628
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -34,416
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 36,994
 All Other Assets 4,209
  TOTAL ASSETS 4,776,557
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 16,826
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,667,978
 All Other Shares & Deposits 398,517
  TOTAL SHARES & DEPOSITS 4,066,495
  TOTAL LIABILITIES 4,083,321
 Regular Reserve 49,420
 Other Reserves 0
 Undivided Earnings 643,816
  TOTAL EQUITY 693,236
  TOTAL LIABILITIES, SHARES, & EQUITY 4,776,557
INCOME & EXPENSE  
 Loan Income 148,114
 Investment Income 29,870
 Other Income 1,049
 Total Employee Compensation & Benefits 89,496
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 36,292
 Non-operating Income & (Expense) -250
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 20,671
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 32,324
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