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BELMONT MUNICIPAL FEDERAL CREDIT UNION

Jun, 30, 2021 — BELMONT MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in BELMONT, MA with 1 branch location and about $5.55 million in total assets. Opened 81 years ago in 1940, BELMONT MUNICIPAL FEDERAL CREDIT UNION has about 407 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:407
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$5,547,547
CEO/Manager:Michael Nasson
Chairperson:Gerard E Benoit

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,838,154
TOTAL INVESTMENTS 2,228,644
Loans Held for Sale 0
 
 Real Estate Loans 538,307
 Unsecured Loans 774,927
 Other Loans 160,971
 TOTAL LOANS 1,474,205
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -39,832
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 40,665
 All Other Assets 5,711
  TOTAL ASSETS 5,547,547
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 19,334
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 4,322,736
 All Other Shares & Deposits 508,205
  TOTAL SHARES & DEPOSITS 4,830,941
  TOTAL LIABILITIES 4,850,275
 Regular Reserve 49,420
 Other Reserves 0
 Undivided Earnings 647,852
  TOTAL EQUITY 697,272
  TOTAL LIABILITIES, SHARES, & EQUITY 5,547,547
INCOME & EXPENSE  
 Loan Income 62,666
 Investment Income 11,167
 Other Income 20
 Total Employee Compensation & Benefits 49,297
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 12,143
 Non-operating Income & (Expense) -498
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,966
 Cost of Funds 4,913
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,036
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