Jun, 30, 2021 — METROWEST COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in FRAMINGHAM, MA with 1 branch location and about $127.46 million in total assets. Opened 80 years ago in 1941, METROWEST COMMUNITY FEDERAL CREDIT UNION has about 7,551 members and employs 14 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 01701 |
| Phone: | (508) 879-5522 |
| Fax: | |
| Website: | http://www.mwcfcu.com |
| Branches: | 1 branch locations |
| Members: | 7,551 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $127,458,277 |
| CEO/Manager: | Joseph Mansour |
| Chairperson: | Paul Barbieri |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,807,889 |
| TOTAL INVESTMENTS | 48,460,111 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 43,769,782 |
| Unsecured Loans | 6,281,912 |
| Other Loans | 16,508,316 |
| TOTAL LOANS | 66,560,010 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -277,031 |
| Land And Building | 372,717 |
| Other Fixed Assets | 170,053 |
| NCUSIF Deposit | 1,042,082 |
| All Other Assets | 322,446 |
| TOTAL ASSETS | 127,458,277 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,376 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -612,677 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,704,865 |
| Regular shares | 43,581,906 |
| All Other Shares & Deposits | 55,546,395 |
| TOTAL SHARES & DEPOSITS | 117,833,166 |
| TOTAL LIABILITIES | 117,222,865 |
| Regular Reserve | 1,662,311 |
| Other Reserves | -1,116,933 |
| Undivided Earnings | 9,690,034 |
| TOTAL EQUITY | 10,235,412 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 127,458,277 |
| INCOME & EXPENSE | |
| Loan Income | 1,260,176 |
| Investment Income | 363,663 |
| Other Income | 190,666 |
| Total Employee Compensation & Benefits | 708,437 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 665,795 |
| Non-operating Income & (Expense) | 15,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,500 |
| Cost of Funds | 299,005 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 203,126 |
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