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MALDEN FEDERAL CREDIT UNION

Dec, 31, 2023 — MALDEN FEDERAL CREDIT UNION is a federal credit union headquartered in MALDEN, MA with 1 branch location and about $27.38 million in total assets. Opened 83 years ago in 1941, MALDEN FEDERAL CREDIT UNION has about 1,617 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MALDEN FEDERAL CREDIT UNION
Address:
(Main Office)
10 Holden St
MALDEN, MA 02148
Phone:(781) 324-2241
Fax:(781) 324-8828
Website:https://maldenfcu.com
Branches:1 branch locations
Members:1,617
Credit Union Type:Federal Credit Union
Charter Number:4472
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1941
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$27,380,291
CEO/Manager:Patricia L Dempsey
Chairperson:Fred Feldman

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,275,662
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 9,906,601
 Unsecured Loans 984,192
 Other Loans 1,501,452
 TOTAL LOANS 12,392,245
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -62,175
 Land And Building 0
 Other Fixed Assets 12,826
 NCUSIF Deposit 235,370
 All Other Assets 0
  TOTAL ASSETS 27,380,291
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 21,156
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,477,994
 Regular shares 5,898,437
 All Other Shares & Deposits 14,320,094
  TOTAL SHARES & DEPOSITS 22,696,525
  TOTAL LIABILITIES 22,717,681
 Regular Reserve 0
 Other Reserves 625,422
 Undivided Earnings 4,037,188
  TOTAL EQUITY 4,662,610
  TOTAL LIABILITIES, SHARES, & EQUITY 27,380,291
INCOME & EXPENSE  
 Loan Income 575,050
 Investment Income 271,452
 Other Income 42,315
 Total Employee Compensation & Benefits 323,953
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 302,631
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,353
 Cost of Funds 162,129
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 101,176
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