Sep, 30, 2025 — SOMERVILLE MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $51.74 million in total assets. Opened 85 years ago in 1941, SOMERVILLE MUNICIPAL FEDERAL CREDIT UNION has about 2,268 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOMERVILLE MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 236 Holland St SOMERVILLE, MA 02144 |
| Phone: | (617) 625-0898 |
| Fax: | (617) 625-0364 |
| Website: | https://www.sommfcu.com |
| Branches: | 1 branch locations |
| Members: | 2,268 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4524 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $51,739,700 |
| CEO/Manager: | Roland J Draper |
| Chairperson: | Stephen Burgess |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,553,104 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,870,249 |
| Unsecured Loans | 3,009,747 |
| Other Loans | 1,894,953 |
| TOTAL LOANS | 25,022,388 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -301,340 |
| Land And Building | 369,114 |
| Other Fixed Assets | 25,714 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 372,924 |
| All Other Assets | 0 |
| TOTAL ASSETS | 51,739,700 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 43 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 208,570 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,838,804 |
| Regular shares | 15,776,219 |
| All Other Shares & Deposits | 20,900,385 |
| TOTAL SHARES & DEPOSITS | 42,515,408 |
| TOTAL LIABILITIES | 42,724,021 |
| Regular Reserve | 0 |
| Other Reserves | 788,437 |
| Undivided Earnings | 8,227,242 |
| TOTAL EQUITY | 9,015,679 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 51,739,700 |
| INCOME & EXPENSE | |
| Loan Income | 918,593 |
| Investment Income | 748,999 |
| Other Income | 64,197 |
| Total Employee Compensation & Benefits | 466,155 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 417,791 |
| Non-operating Income & (Expense) | 32,846 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,000 |
| Cost of Funds | 322,179 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 556,093 |
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