Dec, 31, 2022 — METROWEST COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in FRAMINGHAM, MA with 1 branch location and about $130.73 million in total assets. Opened 82 years ago in 1941, METROWEST COMMUNITY FEDERAL CREDIT UNION has about 7,208 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | METROWEST COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 200 Concord St FRAMINGHAM, MA 01702-8306 |
| Phone: | (508) 879-5522 |
| Fax: | |
| Website: | https://www.mwcfcu.com |
| Branches: | 1 branch locations |
| Members: | 7,208 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4731 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $130,732,687 |
| CEO/Manager: | Joseph Mansour |
| Chairperson: | Paul Barbieri |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,882,904 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 48,372,584 |
| Unsecured Loans | 6,529,466 |
| Other Loans | 18,500,126 |
| TOTAL LOANS | 73,402,176 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -282,653 |
| Land And Building | 337,202 |
| Other Fixed Assets | 161,849 |
| NCUSIF Deposit | 1,169,715 |
| All Other Assets | 0 |
| TOTAL ASSETS | 130,732,687 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 508 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -1,089,530 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,448,653 |
| Regular shares | 46,549,526 |
| All Other Shares & Deposits | 56,720,122 |
| TOTAL SHARES & DEPOSITS | 121,718,301 |
| TOTAL LIABILITIES | 120,629,279 |
| Regular Reserve | 0 |
| Other Reserves | -1,776,007 |
| Undivided Earnings | 11,879,415 |
| TOTAL EQUITY | 10,103,408 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 130,732,687 |
| INCOME & EXPENSE | |
| Loan Income | 1,891,235 |
| Investment Income | 473,930 |
| Other Income | 358,628 |
| Total Employee Compensation & Benefits | 1,009,223 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,122,806 |
| Non-operating Income & (Expense) | 28,500 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 52,250 |
| Cost of Funds | 353,639 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 361,748 |
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