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BELMONT MUNICIPAL FEDERAL CREDIT UNION

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
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
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

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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